Government continues to make “strong progress” in implementing its ambitious economic reform programme as Barbados’ current three year arrangement with the International Monetary Fund (IMF) starts to wind down.
That is the latest assessment of the IMF staff team for Barbados following its latest visit to Barbados.
However, the mission team led by Michael Perks cautioned that “the near-term economic outlook remains positive, but risks continue to be high and tilted to the downside, given Barbados’ vulnerability to global shocks and natural disasters”.
Perks and his team also said structural reform efforts continue to advance, while concluding that Government is also making progress with the implementation of the Resilience and Sustainability Facility (RSF) reform measures for the last review.
The IMF delegation was in Barbados from Tuesday until Friday to review recent economic developments and reform efforts and prepare the ground for the fifth and final reviews of the Extended Fund Facility (EFF) and RSF programmes.
