• Today
    December 19

  • 06:41 AM

Tough IMF road ahead

SHAWN CUMBERBATCH, shawncumberbatch@nationnews.com

Added 08 October 2018

imf

Barbados is about to take on a “challenging” and “arduous” International Monetary Fund (IMF) programme, with a number of key conditions and targets to be met as early as December.

But while stressing the effort “involves significant risks due to the extensive nature of structural reforms needed and limited implementation capacity”, the IMF said Barbados had “no alternative route” to spur a sustained economic recovery.

It made the assertions in a series of documents associated with its US$290 million Extended Fund Facility support for the island. The release of the information, which was authorised by Government, followed the IMF’s Executive Board’s approval on October 1.

Based on a Memorandum of Economic and Financial Policies between Government and the IMF, Barbados has committed to capping Central Government grants and transfers to public institutions at $495 million by the end of December, and $732 million by end of March. The amounts are cumulative over the fiscal year. (SC)

Subscribe now to our eNATION edition.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

The public service vehicle community is upset over new uniforms provided by the Transport Authority. Do you think the new uniforms are a good idea?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM