Caribbean Broadcasting Corporation

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Resilience & Sustainability Trust to provide special concessionary financing to vulnerable countries

June 16th, 2022

Barbados and the region are making the most of a four-day visit to the island by Managing Director of the International Monetary Fund, Kristalina Georgieva.

She has been involved in several discussions about the development needs of this country and the Caribbean.

One of them was a question and answer session this morning with students of the University of the West Indies Cave Hill Campus.

It was during that exchange she indicated that low and middle income countries like Barbados, which face developmental challenges due to climate change, now have access to special concessionary financing, through a new IMF instrument targeting these vulnerable economies.

She says the sole intention of this innovation, the Resilience and Sustainability Trust’, is to ensure the countries which face such threats are placed on a stable and sustainable path.

Ms. Georgieva credits Barbadian Prime Minister Mia Amor Mottley as being one of the chief advocates pressing for this special innovation which focuses on vulnerability of country as opposed to income per capita.

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