IMF Office in Barbados

Resident Representative for Barbados

Christopher Faircloth

Resident Representative

Office Information

2nd Floor Tom Adams Financial Centre, Central Bank of Barbados
Spry Street, Bridgetown

Email: WHDRR-BRB@imf.org
Tel: +1 (246) 537-2873

Christopher Faircloth, Resident Representative: Mr. Christopher Faircloth is a Canadian national that has worked at the International Monetary Fund (IMF) for nearly two decades. His IMF career began as the Advisor to the Executive Director for Canada, Ireland, and Caribbean countries in 2001, where his portfolio included policy issues such as the Fund’s response to capital account crises, private-sector involvement in crisis management, and the voice and representation of small states. Mr. Faircloth moved to the Fund’s general staff as Economist in 2004 where he specialized in the Caribbean region. He was involved in the IMF’s lending and economic reform programs with Dominica and Jamaica—both of which involved a debt restructuring—and served as desk economist for a variety of Caribbean countries, including The Bahamas, St. Lucia, and Trinidad and Tobago. During his Fund career, Mr. Faircloth also worked on Western Balkan countries and spent several years in the Finance Department’s Concessional Financing Division, which oversees the financing framework to deliver concessional support to the poorest and most vulnerable IMF members. He was a lead contributor to the 2019 reform of the Fund’s toolkit to support low-income countries that saw an increase in access to concessional Fund resources, particularly in the aftermath of a large-scale natural disaster event. Mr. Faircloth took up his assignment as the IMF’s Resident Representative for Barbados in August 2019 with the primary responsibility to support the implementation of Barbados’ Economic Reform and Transformation (BERT) Program under the IMF’s Extended Fund Facility arrangement. He holds an Honors and Master’s Degree in Economics from the University of Manitoba and University of Guelph respectively.
Ann Marie Wickham, Local Economist: Ann Marie Wickham was assigned to the IMF’s Resident Representative Office (RRO) in August 2019, as the local Economist to support the IMF’s Resident Representative and mission team in conducting economic analysis, monitoring and assessing economic developments, policy and program design, and technical assistance. She contributes to analytical notes and reports, as well as monitors macroeconomic and political developments in Barbados. Prior to joining the RRO, Ms. Wickham worked as the IMF’s Regional Economist conducting economic surveillance covering the 8 countries of the Eastern Caribbean Currency Union. Before joining the IMF’s regional office in 2017, she worked for the Government of Barbados in the Ministry of Finance and Economic Affairs across various departments for roughly ten years. Ms. Wickham holds a Master’s Degree and a Bachelor’s Degree in Economics, both from the University of the West Indies, Barbados. She also holds a Master’s Degree in Statistics from the University of Southampton, England. Her fields of specialization are macroeconomics, national accounts and public finances.
Amy Carrington, Office Manager: Amy Carrington, a Barbadian national joined the IMF RRO for Barbados as Office Manager on its inauguration in August 2019. Prior to joining the team, she worked for the United States government for a period of 8 years providing assistance to countries in the Eastern Caribbean through the Centers For Disease Control (CDC), Presidents Emergency Plan for AIDS Relief (PEPFAR) program and subsequently with the United States Agency for International Development (USAID), which supported youth development, juvenile justice reform, HIV AIDS, and general development programs in Barbados and the Eastern Caribbean. She also served as the Trafficking in Persons Coordinator for the agency. Amy is a management graduate with experience in operations management, financial administration, procurement and logistics functions. She's a skilled organizer and communicator with extensive experience in office management. Amy is responsible for the day to day management and operations of the RRO. She is highly competent, proficient with time management, organizational and problem-solving skills, whilst placing high emphasis on teamwork. With extensive travel experience and love for exploring different cultures, Amy is passionate about the tourism industry. This passion has led her to pursue her studies in this area where she achieved an Associate Degree in Tourism and Travel and a BSc Hons in Management specializing in Tourism and Hospitality Management, from the University of the West Indies.
Willie Parris, Office Driver: Mr. Willie Parris joined IMF Resident Representative Barbados Office as a Senior Driver on January13th 2020. Under the supervision of the Resident Representative and the Office Manager, Mr. Parris performs official driver duties and assist with general administrative tasks. Prior to joining the IMF Resident Representative Office for Barbados, Mr. Parris a national of Barbados spent almost three decades with the Organization of American States (OAS) as Office Driver/Messenger. Mr. Parris is an electrician by trade and has achieved certification in Computer Repairs & Maintenance.

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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.

Barbados and the IMF Country Page

Barbados: At a Glance
Office Activities

IMF's Work on Barbados
Regional Economic Outlook

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

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.

IMF's Work on Barbados

Barbados : Third Review Under the Extended Arrangement, Requests for Augmentation of Access, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Barbados

December 11, 2020

Author/Editor:International Monetary Fund. Western Hemisphere Dept.
Series:Country Report No. 2020/314
Barbados : Fourth Review Under the Extended Arrangement, Requests for Augmentation of Access, and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Barbados

December 11, 2020

Author/Editor:International Monetary Fund. Western Hemisphere Dept.
Series:Country Report No. 2020/314
IMF Executive Board Concludes the Fourth Review under the IMF’s Extended Arrangement under the Extended Fund Facility for Barbados

December 9, 2020
IMF Reaches Staff Level Agreement on the Fourth Review of Barbados’ Economic Program Under the Extended Fund Facility

October 30, 2020
IMF Staff Concludes Virtual Visit to Barbados

August 28, 2020

Regional Economic Outlook

Western Hemisphere

Regional Economic Outlook: Pandemic Persistence Clouds the Recovery

October 2020

The pandemic continues to spread in Latin America and the Caribbean (LAC), but economic activity is picking up. After a deep contraction in April, activity started recovering in May, as lockdowns were gradually eased, consumers and firms adapted to social distancing, some countries introduced sizable policy support, and global activity strengthened. Real GDP is projected to contract by 8.1 percent in 2020, followed by a mild recovery in 2021 reflecting persistent spread of the virus and associated social distancing and scarring. Risks to the outlook remain tilted to the downside, and uncertainty about the pandemic’s evolution is a key source of risk. Containing the spread of the virus and addressing the health crisis remain the key policy priorities. In countries where lockdowns still hamper activity, policies should focus on ensuring that firms have sufficient liquidity, and on protecting employment and income, while developing medium-term fiscal consolidation plans to safeguard debt sustainability. In countries that are easing lockdowns, efforts should focus on supporting the recovery, including through structural reforms. Once the pandemic is under control, and the recovery is on a strong footing, fiscal policy will need to focus on rebuilding buffers. Monetary policy should remain accommodative as long as inflation stays within the target range and inflation expectations are well anchored.

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