The International Monetary Fund (IMF) says Barbados has passed all the indicative targets under the Extended Fund Facility (EFF) to date and that good progress also continues to be made towards implementing structural reform under the facility.
Bert van Selm, who led an IMF delegation that conducted a staff visit via videoconferencing over the past three days, says Barbados’ international reserves, which reached a low of US$220 million at the end-May 2018, are now in excess of US$1 billion.
The IMF says the COVID-19 pandemic has had a major impact on the country’s economy, with a double-digit decline in economic activity projected for 2020.
Pollyanna Davy, Readers Bureau, Contributor
Edited by Jesus Chan
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