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HomeNewsRegional NewsBarbados: Gov’t to finalise way forward with IMF by July

Barbados: Gov’t to finalise way forward with IMF by July

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by Marlon Madden (Barbados Today) Having completed an International Monetary Fund (IMF)-backed austerity programme, Prime Minister Mia Mottley has signalled that Barbados will be engaging the Washington-based institution further but said an announcement will be made by the end of next month on what form that will take.

In any case, Mottley has announced that Barbados will be accessing its eligible share of about US$210 million (BDS$420 million) from the IMF’s Resilience and Sustainability Trust (RST), saying it was “the right instrument at the right time, for the people most in need”.

The RST was established in May to help countries build resilience to external shocks and ensure sustainable growth, contributing to their long-term balance of payments stability.

The Prime Minister said in addition to addressing issues relating to climate, the funds from the RST will help the country to address matters relating to the COVID-19 pandemic.

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