Barbados: Financial System Stability Assessment

International Monetary Fund

No 2014/053, IMF Staff Country Reports from International Monetary Fund

Abstract: This report evaluates the stability of the financial system in Barbados. The findings reveal that Barbados has a relatively well developed financial system, including a large offshore sector. The onshore system is dominated by large, regionally active banks. Banking services to the population are also provided by the credit union sector. The system also includes a mature but concentrated insurance sector with extensive international affiliates, and other nonbank financial institutions provide credit and other instruments for savers. With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities. Sovereign risk is a concern, given a large public debt, high fiscal deficits, and slow growth, and policy options are limited by a fixed exchange rate regime.

Keywords: ISCR; CR; return on assets; bank resolution regime; bond holding; banking sector; capital adequacy ratio; economic value; CBB regulation; Credit unions; Insurance companies; Insurance; Commercial banks; Central bank bills; Caribbean (search for similar items in EconPapers)
Pages: 64
Date: 2014-02-12
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