1. Over the past three years, the government led by Prime Minister Mottley has successfully implemented a comprehensive economic reform agenda. Immediately after coming into office in May 2018, the government announced a comprehensive Economic Recovery and Transformation (BERT) plan, engaged with creditors to seek debt restructuring, and requested the support of the IMF and other international financial institutions (IFIs). A four-year Extended Arrangement under the Extended Fund Facility (EFF) to support Barbados’ stabilization program was approved on October 1, 2018, and five program reviews have been successfully completed in a timely manner. The next parliamentary elections are due to take place by May 2023.
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