The Central Bank of Barbados advises that during the 24-hour curfew, it will continue to provide services to enable the national payments system to function and urgent international payments to be made.
President of the Barbados Economics Society Dr. Simon Naitram says the recent move by the Central Bank of Barbados to establish new monetary policy measures will give commercial banks the additional ability they need to help both individuals and businesses, through the Covid-19 crisis.
OPEC will meet on Monday with Russia and other oil producers in the hope of agreeing supply cuts and ending a brutal price war.
Additional measures have been announced by to curtail the rising number of Covid 19 cases in Barbados, which now stands at 45.
British Airways is expected to announce it will suspend around 36,000 staff.
Barbados has met a major target under government’s Economic Recovery and Transformation plan.
American Airlines has confirmed it will seek $12bn (£9.7bn) of financial support from the US government because of the impact of coronavirus.
Barbados’ borders have not been closed but screening at the island’s ports of entry have been stepped up in light of the Coronavirus.
The Central Bank of Barbados (CBB) has announced a series of measures including a reduction in the discount rates t0 banks in a bid to support the domestic banking sector in light of the projected impact of the coronavirus (COVID-19) on the economy and the financial system.
The Barbados government is warning employers that they are in breach of the law if they insist that their workers take vacation during the curfew period that has been instituted here as part of the efforts to prevent the spread of the coronavirus (COVID-19).