{
  "title": "Barbados: Staff Report for the 2011 Article IV Consultation",
  "publication": "IMF Staff Country Reports, January 19, 2012",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/barbados-staff-report-for-the-2011-article-iv-consultation-25655",
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  "summary": "This 2011 Article IV Consultation highlights that the difficult global economic conditions continue to hit Barbados with growth at anemic levels. The current account deficit has widened in recent times owing to higher oil and food prices.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- The difficult global economic conditions continue to hit Barbados with growth at anemic levels.\n- The current account deficit has widened in recent times owing to higher oil and food prices.\n- Executive Directors commended the authorities for adopting a revised Medium-Term Fiscal Strategy aimed at generating a balanced budget.\n- Executive Directors emphasized that fiscal consolidation should focus on expenditure reduction, including:\n  - lowering the wage bill,\n  - reducing transfers to public enterprises,\n  - minimizing tax exemptions."
    },
    {
      "heading": "Macroeconomic developments",
      "content": "- Growth characterization: \"anemic levels\" (as stated in the report).\n- External sector: current account deficit widened owing to higher oil and food prices."
    },
    {
      "heading": "Policy recommendations and strategy",
      "content": "- Adopt and implement the revised Medium-Term Fiscal Strategy aimed at generating a balanced budget.\n- Prioritize fiscal consolidation through expenditure-side measures:\n  - Lower the wage bill.\n  - Reduce transfers to public enterprises.\n  - Minimize tax exemptions."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Economic sectors, Expenditure, Government debt management, Public debt, Public financial management (PFM), Public sector, Tourism\n- Keywords: Barbados, Barbados' economy, Caribbean, CR, debt, deficit target, discussions of article IV consultation, executive board discussion, Global, Government debt management, ISCR, price GDP data, private sector development, pro-growth public sector investment, Public sector, real gross domestic product, Tourism\n\n---\n\n Content in this bundle\n\n- Barbados: 2011 Article IV consultation; IMF Country Report 12/07; November 21, 2011\n  - Barbados: 2011 Article IV consultation; IMF Country Report 12/07; November 21, 2011 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Barbados: 2011 Article IV consultation; IMF Country Report 12/07; November 21, 2011 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 19, 2012",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781463932497.002",
    "The difficult global economic conditions continue to hit Barbados with growth at anemic levels.",
    "The current account deficit has widened in recent times owing to higher oil and food prices.",
    "Executive Directors commended the authorities for adopting a revised Medium-Term Fiscal Strategy aimed at generating a balanced budget.",
    "Executive Directors emphasized that fiscal consolidation should focus on expenditure reduction, including:",
    "Growth characterization: \"anemic levels\" (as stated in the report).",
    "External sector: current account deficit widened owing to higher oil and food prices.",
    "Adopt and implement the revised Medium-Term Fiscal Strategy aimed at generating a balanced budget.",
    "Prioritize fiscal consolidation through expenditure-side measures:",
    "Subject: Economic sectors, Expenditure, Government debt management, Public debt, Public financial management (PFM), Public sector, Tourism",
    "Keywords: Barbados, Barbados' economy, Caribbean, CR, debt, deficit target, discussions of article IV consultation, executive board discussion, Global, Government debt management, ISCR, price GDP data, private sector development, pro-growth public sector investment, Public sector, real gross domestic product, Tourism",
    "**Barbados: 2011 Article IV consultation; IMF Country Report 12/07; November 21, 2011**"
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