Barbados Fifth Review Under The Extended Arrangement Request For Waiver Of Nonobservance Of Performance Criterion And Modification Of Performance Criteria Press Release Staff Report And Statement By The Executive Director For Barbados
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Barbados Fifth Review Under The Extended Arrangement Request For Waiver Of Nonobservance Of Performance Criterion And Modification Of Performance Criteria Press Release Staff Report And Statement By The Executive Director For Barbados
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-18
Barbados Fifth Review Under The Extended Arrangement Request For Waiver Of Nonobservance Of Performance Criterion And Modification Of Performance Criteria Press Release Staff Report And Statement By The Executive Director For Barbados written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-18 with Business & Economics categories.
Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth. International reserves have increased to US$1.3 billion at end-March 2021, supported by IFI loans. This, and a successful 2018-19 public debt restructuring, have helped rebuild confidence in the country’s macroeconomic framework. However, a virtual standstill in the tourism sector during the pandemic took a significant toll in 2020, with the economy contracting by 18 percent. While Barbados was successful in containing the outbreak during 2020, a surge in COVID-19 cases in early 2021 resulted in the country’s second national lockdown in February. Economic growth is projected at 3 percent for 2021 premised on a modest recovery of tourism in the second half of the year, but the outlook remains highly uncertain, and risks are elevated, also in light of the possible impact of recent volcanic activity in neighboring Saint Vincent.
Revenue Statistics In Latin America And The Caribbean 2022
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2022-04-27
Revenue Statistics In Latin America And The Caribbean 2022 written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-27 with categories.
This report compiles comparable tax revenue statistics over the period 1990-2020 for 27 Latin American and Caribbean economies. Based on the OECD Revenue Statistics database, it applies the OECD methodology to countries in Latin America and the Caribbean to enable comparison of tax levels and tax structures on a consistent basis, both among the economies of the region and with other economies.
Barbados
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-08
Barbados written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-08 with Health & Fitness categories.
This paper focuses on Barbados’ Third Review Under the Extended Arrangement, Requests for Augmentation of Access, and Modification of Performance Criteria. Barbados continues its strong implementation of the comprehensive Economic Recovery and Transformation plan aimed at restoring fiscal and debt sustainability and increasing reserves and growth. The ongoing global coronavirus pandemic poses a major challenge for the economy, which is heavily dependent on tourism, and is expected to have a large impact on the balance of payments and the fiscal accounts. State-owned enterprise (SOE) reform remains an essential element of Barbados’ economic program. In order to secure fiscal space for investment in physical and human capital, transfers to SOEs need to decline after the global coronavirus pandemic with a combination of stronger oversight of SOEs, cost reduction, revenue enhancement, and mergers and divestment. Progress in restoring fiscal sustainability must be safeguarded by adopting a new central bank law that limits its financing of the Government to short-term advances and strengthens the central bank’s mandate, autonomy, and decision-making structures. A strong recovery after the global pandemic will depend on accelerating structural reforms. There is much room for improvement in the business climate. Establishing a credit registry and credit collateral registry, in addition to broadening the types of eligible collateral, would facilitate access to credit.
Barbados
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2020-12-11
Barbados written by International Monetary Fund. Western Hemisphere Dept. and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-11 with Business & Economics categories.
Barbados has made good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth—but faces major challenges owing to the global coronavirus pandemic. Since May 2018, international reserves have increased from a low of US$220 million (5-6 weeks of import coverage) to more than US$1 billion at end-October 2020. This, and a successful 2018-19 public debt restructuring, have helped rebuild confidence in the country’s macroeconomic framework. While the local spread of COVID-19 has been successfully contained, allowing for a cautious reopening of the tourism sector in July, economic activity remains severely depressed owing to the global pandemic. Risks to the outlook remain elevated.
Barbados
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-04
Barbados written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-04 with Business & Economics categories.
This paper discusses Barbados’ Request for an Extended Arrangement Under the Extended Fund Facility (EFF). The authorities have requested a 4-year EFF arrangement that would be appropriate given the structural nature of fiscal imbalances and the extensive need for structural reforms to support fiscal consolidation and growth promotion. The prior action on launching the domestic part of the debt restructuring would be supplemented by a medium-term structural reform agenda. In view of Barbados’ balance-of-payments needs and the comprehensive package of measures proposed by the authorities, the IMF staff supports the authorities’ request for a four-year extended arrangement under the EFF in the amount of 220 percent of quota.
Barbados
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-06-28
Barbados written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-06-28 with categories.
The authorities’ implementation of the home-grown Economic Recovery and Transformation (BERT 2022) plan and their ambitious climate policy agenda remain strong, supported by the IMF’s Extended Fund Facility (EFF) and Resilience and Sustainability Facility (RSF). In 2023, the economy completed its recovery from the pandemic, growing by an estimated 4.4 percent, driven by a rebound in tourism and related sectors. Inflation moderated gradually with the easing of global commodity prices but remained somewhat elevated due to adverse weather conditions that affected some domestic crops, and stronger demand for tourism-related services. The external position also strengthened, with the current account deficit narrowing to 9 percent of GDP and ample international reserves (US$1.5 billion at end-2023) continuing to support the exchange rate peg. The authorities remain committed to maintaining fiscal consolidation and debt sustainability, while advancing structural reforms to achieve more inclusive and sustainable growth and increase resilience to climate change.
Barbados 2021 Article Iv Consultation Sixth Review Under The Extended Arrangement Under The Extended Facility And Request For Modification Of Performance Criteria Press Release And Staff Report
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-12-17
Barbados 2021 Article Iv Consultation Sixth Review Under The Extended Arrangement Under The Extended Facility And Request For Modification Of Performance Criteria Press Release And Staff Report written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-17 with Business & Economics categories.
While Barbados has been making good progress in implementing its Economic Recovery and Transformation (BERT) plan to restore fiscal and debt sustainability, rebuild reserves, and increase growth, it continues to face major challenges owing to the global pandemic. International reserves have increased to US$1.4 billion by October 2021 supported by IFI loans. This, and a successful 2018-19 public debt restructuring, have helped rebuild confidence in the country’s macroeconomic framework. However, a virtual standstill in the tourism sector during the pandemic took a significant toll in 2020, with the economy contracting by 18 percent. While Barbados was successful in containing the outbreak during 2020, renewed COVID-19 waves weighed on the economic recovery in 2021. In addition, Barbados was hit by the twin natural disaster shocks of volcanic ashfalls from neighboring St. Vincent in April and category 1 hurricane Elsa in July. Economic growth is projected at 1.6 percent for 2021 premised on a modest recovery of tourism towards the end of 2021—down from 3 percent projected at the time of the fifth EFF review. The outlook remains highly uncertain, and risks are elevated.
Barbados
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Author : International Monetary Fund. Western Hemisphere Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-12-18
Barbados written by International Monetary Fund. Western Hemisphere Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-18 with Business & Economics categories.
This paper presents 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria. The Article IV discussions focused on fiscal adjustment, medium-term growth and resilience to climate change and natural disasters. The Barbadian authorities continue to make good progress in implementing the comprehensive Economic Recovery and Transformation (BERT) plan aimed at restoring fiscal and debt sustainability, rebuilding reserves, and increasing growth. All program targets for end-June and end-September 2019 have been met. All three structural benchmarks for the second review have also been met. The authorities have continued the reform of state-owned enterprises (SOEs) by completing a review of tariffs and fees charged by SOEs, tightening reporting requirements, and reducing costs. The authorities reached agreement with the External Creditor Committee on a restructuring of external debt to private creditors in October 2019 and launched a debt exchange offer in early November. The IMF Staff proposes modification of the performance criteria relating to the primary balance, net international reserves and net domestic assets.
Barbados
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language : en
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Barbados written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Liberia
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-11
Liberia written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-07-11 with Business & Economics categories.
This paper focuses on Liberia’s Third Review Under the Extended Credit Facility (ECF) Arrangement and Request for Waiver of Nonobservance of Performance Criterion (PC) and Modification of Performance Criteria. Real GDP grew at 8.7 percent in 2013 and is projected to decline to 5.9 percent in 2014 as mining production decelerates. Most end-December 2013 PCs and indicative targets (ITs) were met, except for the PC on government revenue and the IT on external borrowing. Four out of five structural benchmarks were met on time. The IMF staff supports the completion of the third ECF review.