Government of Barbados and IMF Conclude Article 1V Consultation
The Barbados authorities took advantage of the just-concluded IMF article IV consultations to engage in frank conversations on appropriate measures of adjustment and growth for the Barbadian economy, given Barbadians' commitment to the exchange rate anchor. The discussions focused on the extent of fiscal consolidation needed, the mix of measures which might be most effective in achieving a sustainable path of deficit reduction, and the structural measures needed to increase productivity and improve business facilitation. The IMF team provided a valuable perspective and useful tools for the refinement of official policy. The Government of Barbados benefits from advice on fiscal reform from the IDB, and has already requested IMF technical assistance, via Cartac, for fiscal reform. Additional technical assistance needs have been identified by the Article IV consultation.
The Government of Barbados is deeply appreciative of the constructive engagement of the IMF team, and of their helpful suggestions for Barbados' adjustment and growth programme. The following is a Press Release issued by the IMF team at the conclusion of their consultation.