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Gov’t may have to turn to IMF

NATASHA BECKLES, [email protected]

Gov’t may have to turn to IMF

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GOVERNMENT IS IN danger of having to seek “budgetary support” from the International Monetary Fund “before this fiscal year is up” if it does not stop its heavy reliance on short term debt.
Barbados Economics Society president Jeremy Stephen issued that warning today, as he also cautioned that issues raised in the Auditor General’s latest report could hamper investor confidence.
The economist voiced his concern about these matters during an ACCA members network held at Hilton Barbados.
Stephen said he knew “Government doctors” who were being paid three months late in some instances, and said this was a sign that Government’s finances were in a poor state.
He also found it worrying, and said investors would too, that Government was unable to track $600 million (80 per cent) of the $882 million owed to it. (SC)