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The International Monetary Fund (IMF) has completed its 11-day visit to Barbados. The IMF team, which was on the island from July 2 to July 12, was headed by Bert van Selm.
In a statement released by the IMF, van Selm said
“The Barbadian authorities, in close consultation with their social partners, are taking effective steps to address current economic vulnerabilities. The IMF stands ready to partner with Barbados to restore macroeconomic stability in order to secure strong, durable and inclusive growth in the years ahead.”
He added
“Consistent with the message delivered by the Prime Minister and Minister of Finance during the Budget a second phase of measures will be needed to achieve this target. This next phase will focus on reducing expenditures—notably by improving the efficiency and effectiveness of public services, reducing government transfers to state-owned enterprises by reviewing user fees, exploring options for mergers, and providing stronger oversight.”
Read the full press release here.