Friday, March 29, 2024

IMF link

Date:

Share post:

EVEN AFTER A VERBAL CLASH with International Monetary Fund (IMF) boss Christine Lagarde a year ago over the institution’s harsh economic fixes for developing countries like Barbados, Central Bank Governor Dr DeLisle Worrell says the IMF is now working closely with Barbados.
During his first Press conference for 2014, Worrell, a former IMF economist, said the country had its reserves back up to the $1 billion mark and so IMF financial support was not needed.
However, he admitted that the IMF was advising Government on “managing and monitoring statutory corporations” that had been among the biggest drains on state finances.
Last month, Minister of Finance Chris Sinckler announced that Government would cut as many as 3 500 workers from the public sector, with half of them likely to come from statutory corporations.
“We are working closely with the IMF. We don’t need an agreement which would involve borrowing from the IMF. We have reserves which are more than adequate but at the same time we value the technical assistance and advice that we get from the IMF and we are actively engaged with them using that technical assistance . . . in the area of tax administration and our revenue collection,” the governor said.

Previous article
Next article

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Natassia’s journey from tragedy to triumph

In a world often characterised by turbulence and uncertainty, a beacon of hope often emerges from some of...

No decision yet on Lester Vaughan School

A firm decision has not yet been made regarding when the Lester Vaughan School will be reopened. Following a...

BDF to conduct simulation exercise on April 2 & 3

The Barbados Defence Force (BDF) will conduct a Mass Casualty Simulation Exercise from Tuesday, April 2, to Wednesday,...

Barbadians reminded to file taxes online as filing season starts

The Barbados Revenue Authority (the BRA) is advising that tax filing season for 2023 begins on April 1 this...