27 Sep 2010Blog

IMF will continue to closely monitor Barbados and it's economic growth – South Florida Caribbean News

by Jonathan

Marcello Estevão, chief of an International Monetary Fund (IMF) mission to Barbados, released the following statement on Friday, Sept. 24 in Bridgetown, at the end of the IMF team’s yearly visit to review the Barbadian economy:

“Barbados has been severely affected by the global economic crisis. The deep global recession has curbed tourism, affecting related activities such as construction and trade which, in turn, depressed aggregate demand and raised unemployment. Despite a variety of policy measures to alleviate the impact of the crisis, the level of economic activity is expected to remain broadly unchanged in 2010. The team expects a return to moderate growth thereafter, as tourism receipts remain constrained by weak consumption growth in the United States and the United Kingdom. via South Florida Caribbean News.