Barbados IMF Plan on Track
- Barbados continues to make good progress in implementing its ambitious and comprehensive economic reform program, says a team from the International Monetary Fund (IMF) at the conclusion of a four-day visit on September 5th.
- The target for the Government’s primary surplus was met with a wide margin, with the Government running a primary surplus of 2.5% of (annual) of GDP in the first quarter of the financial year (FY) 2019/20. This bodes well for achieving the Government’s primary surplus target of 6.0% of GDP for FY2019/20. International reserves were also well over program targets at end of the review period.
- Overall, good progress has been made in implementing the end of June and July 2019 structural benchmarks under the Extended Fund Facility Agreement (EFF).