||Central Bank Of Barbados
The Executive Board of the International Monetary Fund (IMF) has approved Barbados’ economic recovery plan, which aims to restore the island’s debt to a sustainable level, improve its external position and boost economic growth.
Approval of the plan will give Barbados access to US $290 million over a four-year period, with US $49 million being available immediately. The balance will dispersed over a four-year period as Barbados successfully completes seven semi-annual reviews.
Read the full IMF press release here.