IMF the ‘next move’
Barbados Economic Society president Jeremy Stephen is warning that on its present course Government will be forced to seek “budgetary support” from the International Monetary Fund (IMF) or turn to the privatisation “bogeyman”.
And he expected this to take place between now and the end of March next year.
Saying he knew “Government doctors” who were being paid three months late, the economist said this was symptomatic of the financial problems the Freundel Stuart administration was facing – problems he said that were largely due to its heavy reliance on short-term financing.
Stephen voiced his concerns yesterday during a presentation to an ACCA (Association of Chartered Certified Accountants) voluntary members network discussion at Hilton Barbados.