Austerity ‘pays’

  • Officials of the International Monetary Fund (IMF) are banking on a return to growth for the Barbados economy as a result of Government’s austerity measures.
  • Chief of the World Economic Studies Division in the Research Department of the IMF, Oya Celasun is predicting that confidence will return to the local economy in the coming months as a result of the four-year austerity IMF-backed programme.
  • Responding to a question from Barbados TODAY at the 2019 World Economic Outlook media conference in Washington yesterday, Celasun also pointed out that in coming months, tourism-dependent economies in the Caribbean should experience higher growth than commodity dependent ones.

 (Source: Barbados Today)