{
  "title": "Barbados: Financial System Stability Assessment",
  "publication": "IMF Staff Country Reports, February 12, 2014",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/barbados-financial-system-stability-assessment-41340",
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  "summary": "This report evaluates the stability of the financial system in Barbados. The findings reveal that Barbados has a relatively well developed financial system, including a large offshore sector. The onshore system is dominated by large, regionally active banks.",
  "sections": [
    {
      "heading": "Executive summary and systemic findings",
      "content": "- The report evaluates the stability of the financial system in Barbados.\n- Barbados has a relatively well developed financial system, including a large offshore sector.\n- The onshore system is dominated by large, regionally active banks.\n- Banking services to the population are also provided by the credit union sector.\n- The system includes a mature but concentrated insurance sector with extensive international affiliates.\n- Other nonbank financial institutions provide credit and other instruments for savers.\n- With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities.\n- Sovereign risk is a concern, given a large public debt, high fiscal deficits, and slow growth.\n- Policy options are limited by a fixed exchange rate regime."
    },
    {
      "heading": "Key risks and vulnerabilities",
      "content": "- Large public debt.\n- High fiscal deficits.\n- Slow economic growth.\n- Fixed exchange rate regime constraining policy responses.\n- Sovereign risk that could affect financial sector stability."
    },
    {
      "heading": "Institutional structure and market characteristics",
      "content": "- Large offshore financial sector alongside the onshore system.\n- Onshore banking dominated by large, regionally active banks.\n- Credit union sector provides retail banking services.\n- Insurance sector is mature but concentrated and has extensive international affiliates.\n- Presence of other nonbank financial institutions offering credit and saving instruments.\n\n---\n\n Content in this bundle\n\n- Barbados 2013 Article IV Consultation, IMF Country Report No. 14/53; January 24, 2014\n  - Barbados 2013 Article IV Consultation, IMF Country Report No. 14/53; January 24, 2014 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Barbados 2013 Article IV Consultation, IMF Country Report No. 14/53; January 24, 2014 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 12, 2014",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484300404.002",
    "The report evaluates the stability of the financial system in Barbados.",
    "Barbados has a relatively well developed financial system, including a large offshore sector.",
    "The onshore system is dominated by large, regionally active banks.",
    "The system includes a mature but concentrated insurance sector with extensive international affiliates.",
    "Other nonbank financial institutions provide credit and other instruments for savers.",
    "With a deteriorating fiscal situation and weak growth prospects, Barbados faces considerable macroeconomic vulnerabilities.",
    "Sovereign risk is a concern, given a large public debt, high fiscal deficits, and slow growth.",
    "Policy options are limited by a fixed exchange rate regime.",
    "Large public debt.",
    "High fiscal deficits.",
    "Slow economic growth.",
    "Fixed exchange rate regime constraining policy responses.",
    "Sovereign risk that could affect financial sector stability.",
    "Large offshore financial sector alongside the onshore system.",
    "Onshore banking dominated by large, regionally active banks.",
    "Credit union sector provides retail banking services.",
    "Presence of other nonbank financial institutions offering credit and saving instruments.",
    "**Barbados 2013 Article IV Consultation, IMF Country Report No. 14/53; January 24, 2014**"
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