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Barbados has successfully completed its second programme with the International Monetary Fund with top marks, specifically, the Extended Fund Facility and the Resilience and Sustainability Facility arrangements.
IMF Mission Chief, Michael Perks, says the programme’s targets were met and the island demonstrated commendable progress in implementing its economic reform programme.
He was speaking at a media conference at Ilaro Court this evening, following an IMF exit meeting between the Fund’s mission and Government.
Mr. Perks says the Barbados economy continues to perform well, noting that growth was very strong in 2024.
Meanwhile, Prime Minister the Honourable Mia Amor Mottley is thanking Barbadians for staying the course, as the country battled through a challenging twelve-year period.
However, Prime Minister Mottley is warning citizens that the country is still under overcast conditions due to the external economic climate.
While the country’s reserves now stand at a solid 3.35 billion, compared to 300 million in 2018, the Prime Minister says Barbados must address its skills shortage issue.
Barbados’ IMF programme will formally come to an end next month.
