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Fiscal policy has traditionally been the main means of economic adjustment in Barbados. However, if the monetary policy stance of the authorities is not consistent with fiscal objectives, then monetary shocks can have important implications for debt management. This paper provides a preliminary investigation of how changes in monetary policy have historically impacted on the cost of servicing government debt in Barbados. The findings from this study should be of use to both monetary and fiscal policymakers as well as those managing government debt.