{
  "title": "Barbados: 2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria-Press Releases; Staff Report; and Statement by the Executive Director for Barbados",
  "publication": "IMF Staff Country Reports, December 18, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/12/18/barbados-2019-article-iv-consultation-second-review-under-the-extended-arrangement-request-48886",
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  "summary": "This paper presents 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria.",
  "sections": [
    {
      "heading": "Summary and scope",
      "content": "- Presents the 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria.\n- Article IV discussions focused on fiscal adjustment, medium-term growth and resilience to climate change and natural disasters.\n- The comprehensive Economic Recovery and Transformation (BERT) plan aims at restoring fiscal and debt sustainability, rebuilding reserves, and increasing growth."
    },
    {
      "heading": "Program implementation and performance",
      "content": "- All program targets for end-June and end-September 2019 have been met.\n- All three structural benchmarks for the second review have been met.\n- IMF Staff proposes modification of the performance criteria relating to the primary balance, net international reserves and net domestic assets."
    },
    {
      "heading": "State-owned enterprises (SOEs) reforms",
      "content": "- Authorities continued reform of SOEs by:\n  - completing a review of tariffs and fees charged by SOEs,\n  - tightening reporting requirements,\n  - reducing costs."
    },
    {
      "heading": "External debt restructuring",
      "content": "- Authorities reached agreement with the External Creditor Committee on a restructuring of external debt to private creditors in October 2019.\n- Authorities launched a debt exchange offer in early November."
    },
    {
      "heading": "Publication and metadata (preserved exactly)",
      "content": "- December 18, 2019\n- Pages: 120\n- Volume: 2019\n- Issue: 370\n- Series: Country Report No. 2019/370\n- DOI: https://doi.org/10.5089/9781513523453.002\n- Stock No: 1BRBEA2019002\n- ISBN: 9781513523453\n- ISSN: 1934-7685\n- Citation (as presented): International Monetary Fund. Western Hemisphere Dept. \"Barbados: 2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria-Press Releases; Staff Report; and Statement by the Executive Director for Barbados\", IMF Staff Country Reports 2019, 370 (2019), accessed 9/11/2026, https://doi.org/10.5089/9781513523453.002"
    },
    {
      "heading": "Subjects and keywords (preserved exactly)",
      "content": "- Subject: Asset and liability management, Debt restructuring, Environment, External debt, Fiscal policy, Fiscal stance, Natural disasters, Public debt\n- Keywords: authority, Barbados, Barbados authorities, Barbados' restructuring, bondholder meeting, Caribbean, CR, creditor, debt exchange, Debt restructuring, debt restructuring agreement, economic reform program, Fiscal stance, Global, ISCR, Natural disasters, w IMF disbursement\n\nIMF Staff Country Reports; Barbados: 2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria — December 18, 2019.\n\n---\n\n Content in this bundle\n\n- 1brbea2019002\n  - 1brbea2019002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1brbea2019002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 18, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513523453.002",
    "Presents the 2019 Article IV Consultation with Barbados and its Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria.",
    "Article IV discussions focused on fiscal adjustment, medium-term growth and resilience to climate change and natural disasters.",
    "The comprehensive Economic Recovery and Transformation (BERT) plan aims at restoring fiscal and debt sustainability, rebuilding reserves, and increasing growth.",
    "All program targets for end-June and end-September 2019 have been met.",
    "All three structural benchmarks for the second review have been met.",
    "IMF Staff proposes modification of the performance criteria relating to the primary balance, net international reserves and net domestic assets.",
    "Authorities continued reform of SOEs by:",
    "Authorities reached agreement with the External Creditor Committee on a restructuring of external debt to private creditors in October 2019.",
    "Authorities launched a debt exchange offer in early November.",
    "December 18, 2019",
    "Pages: 120",
    "Volume: 2019",
    "Issue: 370",
    "Series: Country Report No. 2019/370",
    "DOI: https://doi.org/10.5089/9781513523453.002",
    "Stock No: 1BRBEA2019002",
    "ISBN: 9781513523453",
    "ISSN: 1934-7685",
    "Citation (as presented): International Monetary Fund. Western Hemisphere Dept. \"Barbados: 2019 Article IV Consultation, Second Review Under the Extended Arrangement, Request for Completion of the Financing Assurances Review, and Modification of Performance Criteria-Press Releases; Staff Report; and Statement by the Executive Director for Barbados\", IMF Staff Country Reports 2019, 370 (2019), accessed 9/11/2026, https://doi.org/10.5089/9781513523453.002",
    "Subject: Asset and liability management, Debt restructuring, Environment, External debt, Fiscal policy, Fiscal stance, Natural disasters, Public debt",
    "Keywords: authority, Barbados, Barbados authorities, Barbados' restructuring, bondholder meeting, Caribbean, CR, creditor, debt exchange, Debt restructuring, debt restructuring agreement, economic reform program, Fiscal stance, Global, ISCR, Natural disasters, w IMF disbursement",
    "**1brbea2019002**"
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