Economy looking up, says IMF
THE INTERNATIONAL MONETARY FUND (IMF) says if Government can get the Barbados Revenue Authority issues settled, get some statutory corporations merged and working efficiently, the island’s worrying debt would drop significantly.
All this was contained in the latest IMF Article IV mission to Barbados led by Judith Gold from May 9 to 19, which said too that the Barbados economy had “appeared to turn the corner” after struggling for several years to achieve steady growth.
And within hours of an Opposition-led march in Bridgetown, the IMF’s verdict was that the economy benefited from “a surge in tourism arrivals” anchoring a 0.8 growth in 2015.
The IMF said unemployment fell, inflation was low, reflecting a sharp drop in the price of imports, while the financial system was regarded as stable with non-performing loans declining and private sector credit growth remaining cautious. (GE)
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