Barbados: Staff Report for the 2002 Article IV Consultation
IMF Staff Country Reports, March 5, 2003
Source details
- Canonical URL
- Barbados: Staff Report for the 2002 Article IV Consultation
Other formats
Bibliographic details
- Published: March 5, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451806021.002
Economic performance and causes of slowdown
- Eight consecutive years of growth in Barbados ended in 2001.
- Real GDP contracted by 2¾ percent in 2001.
- Primary factors cited for the contraction:
- Adverse impact on tourism from the global economic slowdown.
- Effects of the September 11 terrorist attacks.
- Continuing declines in agriculture and manufacturing output.
Policy response
- Authorities implemented a national emergency program in the fourth quarter of 2001 to lessen the impact of the September 11 attacks.
Monetary and external developments
- Broad money grew by 5½ percent in 2001.
- The growth in broad money reflected capital inflows and an increase in international reserves.
Thematic coverage and keywords
- Subject areas: Economic sectors, External debt, Labor, Public debt, Public enterprises, Public sector, Wage adjustments.
- Keywords as listed: Barbadian authorities, Caribbean, CR, deficit, deficit of the central government, Global, government, IMF staff representative, ISCR, overall deficit, Public enterprises, Public sector, staff appraisal, Wage adjustments.
Source: Barbados: Staff Report for the 2002 Article IV Consultation (March 5, 2003).