This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Barbados and the IMF. Additional information can be found on Barbados and IMF country page, including official IMF reports and Executive Board documents in English that deal with Barbados.

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Barbados: At a Glance

  • Current IMF membership: 190 countries
  • Barbados joined the Fund on December 29, 1970
  • Quota: SDR 94.5 million (0.02 percent of total)
  • Number of arrangements since membership: 3
  • Outstanding Purchases and Loans (SDR): 206 million (September 24, 2020)
  • Latest Article IV/Country Report: December 18, 2019
  • Current IMF arrangement: Latest Report: June 8, 2020

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Office Activities

What we do
The IMF office in Barbados is a central point of contact between with the IMF and the Government of Barbados with a primary focus to support the implementation of Barbados’ Economic Reform and Transformation (BERT) priorities set forth in the Fund’s Extended Arrangement under the Extended Fund Facility (EFF) for Barbados. In that capacity, the office follows economic developments and policies in Barbados, liaises between the Barbadian authorities and IMF staff in Washington, and coordinates IMF technical assistance. It is also a source of information about IMF views for the public, local and foreign analysts, investors, academic and research institutions, and Barbados’ international partners and their diplomatic missions.

Who we are
The office in Barbados was opened in 2019 with Mr. Christopher Faircloth as the inaugural Resident Representative.

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Regional Economic Outlook

October 2021 Regional Economic Outlook for Western Hemisphere - Cover

Western Hemisphere

Regional Economic Outlook
April 2022

The war in Ukraine is shaking the world economy and raising uncertainty about the outlook for Latin America and the Caribbean. Even before the war, the region’s recovery from the pandemic was losing momentum and growth is returning to its pre-pandemic trend rate of around 2.5 percent for 2022. The war brings a further shock to inflation, and policymakers across the region have reacted decisively by tightening monetary policy and implementing measures to soften the blow of higher food and energy prices on the most vulnerable—thus mitigating the risks of social unrest. Rising interest rates complicate the management of already high debt levels, and an escalation of the war could further tighten financial conditions in the region. In this context, an inclusive fiscal consolidation strategy would maintain support for the vulnerable while helping rebuild buffers.

Read more: Regional Economic Outlook for the Western Hemisphere, April 2022