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Date Time Share IMF Reaches Staff Level Agreement on Fifth Review of Barbados’ Economic Program under Extended Fund Facility End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF’s Executive Board for discussion and decision. IMF te...

By Robin Mahon At the start of the COVID-19 pandemic last year, Barbados gave several cruise ships permission to anchor off Barbados. In extending this helping hand, mistakes were made that have cost Barbados dearly. The anchoring has destroyed extensive areas of live coral reef on the South and West coasts. This is the conclusion of recently published research carried out at The University of the West Indies. The report also notes that this is an opportunity for Barbados and the region to learn from its mistakes, which is the purpose of the research report. The project obtained data on the 2...

Article by Social Share Bridgetown – The coronavirus (COVID-19) pandemic is causing a deep recession in Barbados, but implementation of the Barbados Economic Recovery and Transformation (BERT) programme remains strong and targets are still being met, an International Monetary Fund (IMF) staff mission reported on Friday. The comments came at the end of an IMF staff visit, via videoconferencing, between February 2 and 5, to discuss the implementation of the BERT plan, supported by the IMF under the Extended Fund Facility (EFF). “The prolonged COVID-19 pandemic continues to have a majo...

The global coronavirus pandemic is causing a deep recession in Barbados. Implementation of the Barbados Economic Recovery and Transformation (BERT) program remains strong, despite the COVID-19 shock. Program targets under the Fund-supported program for end-December 2020 were met, and international reserves reached more than US$1.3 billion at the end of December. Washington, DC – February 5, 2021: At the request of the Government of Barbados, an International Monetary Fund (IMF) team led by Bert van Selm conducted a staff visit via videoconferencing between February 2-5, 2021 to discuss th...