The Central Bank of Barbados' 2025 Annual Report

Governor’s Message

In 2025, the Central Bank of Barbados continued its steady and disciplined journey of institutional strengthening, guided by a clear and enduring principle: safeguarding stability while deliberately building the future. This balance between prudence and progress defined our actions throughout the year and shaped the way we approached transformation across the Bank.

The past year marked an important transition from internal consolidation to system-wide readiness. Having embedded a culture of excellence and accountability across the organisation, the Bank focused on strengthening the infrastructure, governance frameworks, and capabilities required to support a more modern, efficient, and inclusive financial system. These efforts did not seek speed for its own sake. Instead, they reflected a measured commitment to innovation that reinforces trust, resilience, and credibility.

A central pillar of this work involved advancing the national payments agenda in preparation for the launch of BiMPay, Barbados’ instant payment system. Throughout 2025, the Bank concentrated on strengthening oversight arrangements, finalising operational standards, and deepening engagement with stakeholders to ensure that real-time payments emerge as secure, reliable, and trusted public infrastructure. This work underscored our belief that payment systems form part of the country’s economic backbone and must meet the highest standards of reliability, integrity, and resilience.

Alongside payments reform, the Bank accelerated the development of its proprietary data and information systems. Reliable data, strong analytics, and timely insights remain essential to sound policy advice, effective supervision, and informed decision-making.

By investing in integrated databases and supervisory tools, the Bank enhanced its ability to monitor economic and financial developments, assess emerging risks, and support evidence-based policymaking in an increasingly complex global environment.

The transition toward a paperless operating environment also gathered momentum during the year. Through the expansion of digital workflows and enterprise content management systems, the Bank improved efficiency, strengthened records management, and reduced operational risk. These changes supported greater transparency, auditability, and continuity, while also advancing our commitment to environmental responsibility. Importantly, these reforms reflected a broader objective: embedding modern governance practices into the daily operations of the institution.

At the heart of every transformation effort stood our people. The Bank continued to invest in skills development, leadership capacity, and change management to ensure that staff remain confident, capable, and engaged. A strong institution rests on a workforce that understands not only what is changing, but why it matters. Throughout 2025, we prioritised clear communication, collaboration, and shared ownership of our strategic direction, recognising that sustainable transformation depends on people as much as on systems.

The Bank also remained focused on its core mandate responsibilities. We maintained vigilance in safeguarding the value of the Barbados dollar, promoting financial stability, and supporting orderly economic development. Through ongoing engagement with Government, domestic stakeholders, and international partners, the Bank contributed to informed policy discussions and reinforced confidence in Barbados’ macroeconomic framework. These efforts reflected continuity, discipline, and a firm commitment to institutional independence and accountability.

Public engagement and economic education continued to play an important role in strengthening trust and understanding. By explaining policy choices, demystifying economic concepts, and engaging citizens in meaningful dialogue, the Bank reaffirmed its role not only as a regulator and advisor, but also as a communicator and educator. Clear communication remains essential to effective policy transmission and public confidence.

Looking ahead, the Bank remains firmly anchored in its mandate while attentive to the demands of a changing financial landscape. The foundations laid during 2025 position the institution to support innovation responsibly, deepen financial inclusion, and strengthen resilience across the financial system.

Guided by discipline, sound governance, and a commitment to excellence, the Central Bank of Barbados continues to build an institution that serves the country today while preparing confidently for the future.

Dr., The Most Honourable Kevin Greenidge, F.B.