Barbados: Staff Report for the 1999 Article IV Consultation
IMF Staff Country Reports, December 20, 1999
Source details
- Canonical URL
- Barbados: Staff Report for the 1999 Article IV Consultation
Other formats
Bibliographic details
- Published: December 20, 1999
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451805963.002
Overview
- Since the early 1990s, Barbados has been experiencing steady economic growth founded on prudent economic management and generally favorable external conditions.
- The report date: December 20, 1999.
Economic performance (1990s, highlighted 1998)
- 1998: real GDP growth picked up, driven by strong performances in the tourism and construction sectors.
- 1998: a drought led to a decline in sugar output.
Policy framework and management
- Economic policy incorporated fiscal and wage restraint.
- Fiscal and wage restraint were implemented consistent with the maintenance of the long-standing exchange parity with the U.S. dollar.
- Implicit policy implication: continued fiscal and wage discipline supported external stability and the exchange parity regime.
Sectoral notes
- Tourism: strong performance in 1998 contributed significantly to GDP growth.
- Construction: strong performance in 1998 contributed significantly to GDP growth.
- Agriculture (sugar): adversely affected in 1998 by drought, resulting in a decline in sugar output.
Subjects and keywords covered in the report
- Central banks
- Economic sectors
- External debt
- International reserves
- Labor
- Public debt
- Public sector
- Public sector wages
Barbados: Staff Report for the 1999 Article IV Consultation (December 20, 1999).