Economy in Barbados

  • Global growth will be disappointing in 2016: IMF's Lagarde

    AFGHANISTAN, 2016/01/02 World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday. IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide. Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.

  • Revised IMF forecasts signal gloom on global economic outlook

    AFGHANISTAN, 2015/01/20 Low oil prices will not provide a sufficient updraught to dispel the clouds hanging over the world economy, the International Monetary Fund said on Tuesday. In a sign of its increasing gloom about the medium term economic outlook, the IMF cut its world economic increase forecasts by 0.3 % points for both 2015 and 2016, despite believing cheaper oil represents a “shot in the arm”.

  • Barbados-based Caribbean Development Bank (CDB).

    BARBADOS, 2014/06/01 Caribbean nations ended 2013 on a additional solid economic footing than it had done since the start of the 2007/2008 world economic recession, according to figures released by the Barbados-based Caribbean Development Bank (CDB). The CDB, which is holding its 44th Annual Conference of the Board of Governors here, said that a lot of of its borrowing member states (BMCs) recorded increases “albeit modest in economic activity”. CDB President Dr. Warren Smith said that “at the regional level, increase and sustainability were recurring themes in discussions about performance”. The CDB said that preliminary estimates indicate that the economic activity in the region grew by an average of 1.5 % last year, up slightly from a revised figure of 1.2 % for 2012.

  • Labour Minister Dr. Esther Byer Suckoo

    BARBADOS, 2014/03/05 A senior Barbados government Minister Tuesday said each citizen must play a role in the turning around the ailing economy warning “if you are not part of the solution you are part of the problem”. Labour Minister Dr. Esther Byer Suckoo, addressing the Productivity Council’s Week of Excellence, said that whilst the Freundel Stuart government was fully conscious of the challenges and has a mandate to seek and implement solutions which will engender economic recovery, “we all have a role to play in the recovery process. “We know that there is no panacea for all the challenges which we encounter, whether it be at the level of Government, social partnership, the workplace or even in our personal lives; but whatever the solutions we decide upon, ingenuity, proactivity and fortitude would make them attainable,” she said.

  • Barbados debt levels will hopefully stabilise by 2016

    BARBADOS, 2014/02/14 The International Monetary Fund (IMF) says fiscal measures recently introduced by the Barbados government will, if fully implemented, should stablise deficit levels by 2016. “However, downside risks are considerable and failure to implement corrective policies could result in a disorderly adjustment process. Even with full implementation, fiscal financing pressures and external sector sustainability would remain challenging,” the Washington-based financial institution said Wednesday. It noted that the island’s economic performance has been weak and public deficit is high.
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