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International Monetary Fund. Western Hemisphere Dept.

(calendar year) (In percent of CY GDP) Current account balance -4.0 -3.1 -7.2 -10.8 -8.8 Capital and financial account balance 9.4 7.4 18.5 12.2 6.6 Public Sector 4.8 3.7 11.0 7.7 1.7 o/w IMF disbursement 1.0 1.9 5.1 1.0 0.5 Private Sector 4.1 3.8 7.6 4.6 4.9 o/w FDI 4.4 4.6 8.5 5.0 4.9 Net Errors and Omissions 0.2 0.2 1.8 0.0 0.0 Overall balance 5.7 4.5 13.2 1.4 -2.2 Memorandum items : Exchange rate

International Monetary Fund. Western Hemisphere Dept.

.0 Public Debt (fiscal year) 1/ Central gov’t gross debt (incl. guaranteed and arrears) 149.5 158.3 125.6 115.9 109.9 External 31.3 28.5 32.6 28.7 28.1 Domestic 118.2 129.8 93.0 87.2 81.9 Balance of payments 2/ Current account balance -4.3 -3.8 -3.7 -3.7 -3.6 Capital and financial account balance 0.8 0.8 9.1 6.3 5.4 o/w Public Sector -1.8 -1.4 3.5 3.3 1.8 o/w IMF disbursement 0.0 0.0 1.0 1.9 1.4 Private Sector 2

International Monetary Fund. Western Hemisphere Dept.

.9 External 31.3 28.5 32.6 28.7 28.1 Domestic 118.2 129.8 93.0 87.2 81.9 Balance of payments 2/ Current account balance -4.3 -3.8 -3.7 -3.7 -3.6 Capital and financial account balance 0.8 0.8 9.1 6.3 5.4 o/w Public Sector -1.8 -1.4 3.5 3.3 1.8 o/w IMF disbursement 0.0 0.0 1.0 1.9 1.4 Private Sector 2.6 2.2 4.1 3.1 3.5 o/w FDI 3.4 3.1 4.4 3.5 3.7 Net Errors and Omissions 1.0 0.3 0.3 0.0 0.0 Overall balance

International Monetary Fund. Western Hemisphere Dept.
This paper discusses Barbados’ Request for an Extended Arrangement Under the Extended Fund Facility (EFF). The authorities have requested a 4-year EFF arrangement that would be appropriate given the structural nature of fiscal imbalances and the extensive need for structural reforms to support fiscal consolidation and growth promotion. The prior action on launching the domestic part of the debt restructuring would be supplemented by a medium-term structural reform agenda. In view of Barbados’ balance-of-payments needs and the comprehensive package of measures proposed by the authorities, the IMF staff supports the authorities’ request for a four-year extended arrangement under the EFF in the amount of 220 percent of quota.
International Monetary Fund. Western Hemisphere Dept.
This paper presents 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria. The Article IV discussions focused on fiscal adjustment, medium-term growth and resilience to climate change and natural disasters. The Barbadian authorities continue to make good progress in implementing the comprehensive Economic Recovery and Transformation (BERT) plan aimed at restoring fiscal and debt sustainability, rebuilding reserves, and increasing growth. All program targets for end-June and end-September 2019 have been met. All three structural benchmarks for the second review have also been met. The authorities have continued the reform of state-owned enterprises (SOEs) by completing a review of tariffs and fees charged by SOEs, tightening reporting requirements, and reducing costs. The authorities reached agreement with the External Creditor Committee on a restructuring of external debt to private creditors in October 2019 and launched a debt exchange offer in early November. The IMF Staff proposes modification of the performance criteria relating to the primary balance, net international reserves and net domestic assets.
International Monetary Fund. Western Hemisphere Dept.

. guaranteed and 149.5 158.3 125.6 115.9 109.9 External 31.3 28.5 32.6 28.7 28.1 Domestic 118.2 129.8 93.0 87.2 81.9 Balance of payments 2/ Current account balance -4.3 -3.8 -3.7 -3.7 -3.6 Capital and financial account balance 0.8 0.8 9.1 6.3 5.4 o/w Public Sector -1.8 -1.4 3.5 3.3 1.8 o/w IMF disbursement 0.0 0.0 1.0 1.9 1.4 Private Sector 2.6 2.2 4.1 3.1 3.5 o/w FDI 3.4 3.1 4.4 3.5 3.7 Net

International Monetary Fund. Western Hemisphere Dept.
International Monetary Fund. Western Hemisphere Dept.

2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria-Press Releases; Staff Report; and Statement by the Executive Director for Barbados

International Monetary Fund. Western Hemisphere Dept.

2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria-Press Releases; Staff Report; and Statement by the Executive Director for Barbados

International Monetary Fund. Western Hemisphere Dept.

2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria-Press Releases; Staff Report; and Statement by the Executive Director for Barbados