Caribbean Broadcasting Corporation

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Barbados welcomes IMF approval

February 23, 2023

Barbados has welcomed the news that the International Monetary Fund has approved the Caribbean Development Bank and the Inter-American Development Bank to become prescribed holders of special drawing rights.

This approval allows both regional institutions to increase their lending capacity to support sustainable development and augment climate financing across the region.

Prime Minister Mia Amor Mottley thanked the IMF Deputy Managing Director, Bo Li, and his team for participating in a roundtable discussion to further develop the climate finance strategy for Barbados.

The roundtable, chaired by the Minister in the Ministry of Finance, Economic Affairs and Investment, Ryan Straughn, focused on how these multilateral institutions can support the IMF Resilience and Sustainability Fund programme with Barbados.

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