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IMF Gives Barbados' Economic Recovery Efforts Passing Grade, Approves $75 Million Disbursement
The International Monetary Fund's staff mission to Barbados has commended the country's economic recovery, leading to the potential disbursement of $75 million next month. Recommendations for further growth were also provided.
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Originally published by www.nationnews.com (opens in new tab)
The International Monetary Fund’s (IMF) staff mission to Barbados has given the country’s economic recovery efforts another passing grade.
It paves the way for the IMF’s executive board to approve the disbursement of US$75 million to Government next month.
While noting that the economy “has recovered strongly, with ten consecutive quarters of growth, driven by a rebound in tourism”, the staff team led Pablo Morra said that “advancing the growth agenda will help raise the economy’s growth potential”.
“To increase medium-term growth, it is important to further enhance the ease of doing business, boost economic efficiency and stimulate private investment, including by improving trade and business facilitation, investing in skills and education, and promoting digital technologies,” Morra and his colleagues advised in a statement issued yesterday at the end of a November 6 to 13 virtual mission. (SC)
