Barbados: Staff Report for the 2011 Article IV Consultation

International Monetary Fund

No 2012/007, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2011 Article IV Consultation highlights that the difficult global economic conditions continue to hit Barbados with growth at anemic levels. The current account deficit has widened in recent times owing to higher oil and food prices. Executive Directors commended the authorities for adopting a revised Medium-Term Fiscal Strategy aimed at generating a balanced budget. They emphasized that fiscal consolidation should focus on expenditure reduction, including lowering the wage bill, reducing transfers to public enterprises, and minimizing tax exemptions.

Keywords: ISCR; CR; debt; Barbados; pro-growth public sector investment; real gross domestic product; price GDP data; deficit target; executive board discussion; private sector development; Barbados' economy; discussions of article IV consultation; Public sector; Government debt management; Tourism; Global; Caribbean (search for similar items in EconPapers)
Pages: 67
Date: 2012-01-19
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