17 Sep 2009Blog

IMF gives mixed report on Barbados economy

by Maxwell

From today’s Barbados Advocate:

THE International Monetary Fund (IMF) has given Barbados a mixed report following its 2009 Article IV Consultation on the economy.
While the Fund’s Executive Directors have noted “that Barbados is facing a severe economic recession,” they nonetheless say that the country’s net international reserves are expected to stabilise this year and the Board is optimistic that future action will be taken to improve the country’s situation.

However, the IMF executive board remained optimistic and noted, “Barbados was well placed to take bold action, given its established social partnership with a proven track record of reaching social consensus at difficult times”.

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