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Western Hemisphere > Barbados

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Cover IMF Staff Country Reports
Barbados: Request for an Arrangement Under the Extended Fund Facility and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; and Staff Report
International Monetary Fund. Western Hemisphere Dept.
Despite a series of economic shocks, Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan since the government led by Prime Minister Mia Mottley took office in May 2018. Macroeconomic stability was restored with a combination of comprehensive sovereign debt restructuring, fiscal consolidation, and structural reforms to reduce fiscal dominance and enhance growth. International reserves have increased to US$1.4 billion by end-September 2022 from a historical low of US$220 million in 2018. While fiscal consolidation was interrupted by the COVID-19 pandemic, public debt was put back on a downward path starting in FY2021/22. Building on the successful completion of a 2018-22 Extended Fund Facility (EFF), the authorities have requested a successor EFF program along with a Resilience and Sustainability Facility (RSF) to strengthen fiscal sustainability, support the structural reform agenda, and increase resilience to climate change.
Keywords:
successor EFF program; EFF arrangement; climate change mitigation; sector policy; climate change adaptation measure; Climate change; Natural disasters; Fiscal stance; Credit; Global; Caribbean
Cover Finance & Development
Finance & Development, December 2022
International Monetary Fund. Communications Department
Finance & Development, December 2022
Keywords:
energy transition; West Indies cricket team; fossil fuel use; energy consumption; West Indies cricket journey; Renewable energy; Fuel prices; Non-renewable resources; Energy prices; Electricity; Europe; Global; Caribbean; Africa; Baltics
Cover IMF Staff Country Reports
Eastern Caribbean Currency Union: Technical Assistance Report-Review of Regulations to New Securities Act and Investment Funds Act
International Monetary Fund. Monetary and Capital Markets Department
At the request of the Eastern Caribbean Securities Regulatory Commission (ECSRC), a Monetary and Capital Markets (MCM) Department mission conducted a review of a draft version of the new Investment Funds Regulations (IFR) and Securities Regulations (SR) form May 20–June 30, 2022. The two sets of regulations are a key part of the new regime to govern the capital markets in the member territories of the Eastern Caribbean Currency Union (ECCU).
Keywords:
Securities bill; ECCU member country; investment funds bill; Securities commission; IOSCO principle; Mutual funds; Securities; Securities regulation; Caribbean