Economic Resilience with an Exchange Rate Peg: the Barbados Experience, 1985-2000

Author/Editor: Worrell, DeLisle ; Codrington, Harold ; Craigwell, Roland ; Greenidge, Kevin
Publication Date: August 01, 2003
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: This paper discusses the institutional arrangements for exchange rate targeting in Barbados and the critical role they played in the policy response to its balance of payments crisis of 1991-92. The framework featured ongoing cooperation between the central bank and the Ministry of Finance, and the use of a forecast model which highlighted the size of fiscal adjustment needed to secure foreign reserves adequate to maintain the exchange rate peg.
Series: Working Paper No. 03/168
Subject(s): Currency pegs | Barbados

Author's Keyword(s): Stabilization policy | Exchange rate | Caribbean
Publication Date: August 01, 2003
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA1682003 Pages: 23
US$15.00 (Academic Rate:
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