Barbados Bracing For Impact From Ukraine Unrest

• The Barbados government is already seeking to put measures in place to cushion any likely fallout from the war that has broken out in Ukraine with Russia, which could have implications for the cost of fuel and food, the supply of food and result in disruptions in the supply chain globally. 
• Prime Minister Mottley noted that hat Barbados’ reserves stood at over $3 billion, representing about 37 weeks of import cover, giving the country adequate buffers to deal with increased prices at least for a period. 
• Currently, the country has embarked on efforts undertaken by the Ministry of Agriculture, Food and Nutritional Security to boost food production in the country to ensure Barbados is in a better position to feed its citizens amidst the crisis which had led to increases in food prices. 
• The Russia-Ukraine conflict is expected to have adverse effects on the local economy through higher inflation and surges in oil and prices of other commodities such as wheat and corn. This will inadvertently, lead to higher electricity and gas prices for both consumers and producers alike.

 (Source: Barbados Today)