The Central Bank of Barbados published an update on the International Monetary Fund’s fifth and final review of Barbados’ Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF) programmes, which resulted in a staff-level agreement for additional financing. Subject to International Monetary Fund Executive Board approval in June, the agreement would give Barbados access to approximately USD 57 million. An International Monetary Fund mission to Barbados from 2 to 8 May, led by Michael Perks, found that all quantitative performance criteria and indicative targets for the fifth EFF review were met. For the fifth RSF review, the authorities completed both reform measures, including steps to integrate climate considerations into public financial management through public investment project appraisal guidelines, deeper fiscal risk analysis, and preparation of a public-private partnership framework.
Central Bank of Barbados 2025-05-09
Central Bank of Barbados reports IMF staff-level agreement after final EFF and RSF reviews for about USD 57 million in financing
The Central Bank of Barbados announced a staff-level agreement with the International Monetary Fund (IMF) for additional financing of approximately USD 57 million, pending IMF Executive Board approval. The IMF's fifth review of Barbados’ Extended Fund Facility and Resilience and Sustainability Facility confirmed all performance criteria were met, with reforms integrating climate considerations into public financial management.