The Central Bank of Barbados published an update on the International Monetary Fund’s February 25–28 mission to Barbados, conducted to assess recent economic performance and to support preparation for the fifth and final review of the Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programmes. The IMF mission lead, Michael Perks, reported that Barbados is making strong progress with its economic reform programme and that end-December 2024 EFF targets were met. The IMF statement highlighted strong fiscal performance, with the primary balance reaching 5.3% of GDP through December and the authorities remaining on track to meet the 3.8% of GDP fiscal target for FY2024/25. Structural reforms were described as continuing to advance with IMF technical assistance, including measures to strengthen customs administration, the framework for public-private partnerships, and the Central Bank of Barbados’ liquidity forecasting, alongside progress on RSF reform measures for the final review.
Central Bank of Barbados 2025-02-28
Central Bank of Barbados reports IMF mission confirms end-December EFF targets were met and reforms are advancing
The Central Bank of Barbados reported on the IMF's mission to assess Barbados' economic performance and prepare for the final review of the Extended Fund Facility and Resilience and Sustainability Facility programs. The IMF noted strong fiscal performance, with a primary balance of 5.3% of GDP and progress on structural reforms, including customs administration and public-private partnership frameworks. Barbados remains on track to meet its fiscal target of 3.8% of GDP for FY2024/25.