Economic Resilience with An Exchange Rate Peg: The Barbados Experience, 1985-2000
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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. 2003/168
Subject:
Banking Central banks Fiscal consolidation Fiscal policy Foreign exchange Inflation International reserves Prices
English
Publication Date:
August 1, 2003
ISBN/ISSN:
9781451858280/1018-5941
Stock No:
WPIEA1682003
Pages:
24
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