• Today
    June 24

  • 05:49 AM

Still in recession

SHAWN CUMBERBATCH, shawncumberbatch@nationnews.com

Added 03 May 2019

332957

Governor of the Central Bank Cleviston Haynes, speaking at the press conference yesterday, said the economy needs investment to grow. (Picture by Lennox Devonish.)

 

Barbados remains in recession, with the economy contracting by an estimated 0.2 per cent in the first quarter.

And while economic growth is predicted to be no more than 0.25 per cent this year, Central Bank Governor Cleviston Haynes says he believes the island can achieve the “spurt in growth” it needs.

He also announced that a team from the International Monetary Fund (IMF) will be in Barbados next week to check the progress of the economic reforms, as Government prepares to receive another US$49 million from the Fund. (SC)

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