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More IMF talks

SHAWN CUMBERBATCH, [email protected]

More IMF talks

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The Central Bank has given the visiting International Monetary Fund (IMF) delegation a first-hand account of the economic situation facing Barbados.

THE NATION confirmed that with Governor Cleviston Haynes expected to soon report on Barbados’ economic performance for the second quarter, the IMF team, led by Barbados mission chief Dr Bert van Selm, met with Central Bank officials at the Tom Adams Financial Centre on Tuesday.

Sources said van Selm and about five other IMF representatives attended the meeting. Dr Clyde Mascoll and Avinash Persaud, both economic advisors to Prime Minister and Minister of Finance Mia Mottley, also participated in the afternoon’s discussions.

In the past the IMF has been critical of the Central Bank’s decision to print money to support Government’s expenditure. It advised the bank to stop the practice, warning that it was jeopardising Barbados’ fixed exchange rate. van Selm and his team are scheduled to return to Washington DC next week Thursday. (SC)