## 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, December 18, 2019_

## Source details

**Canonical URL:** [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](https://www.imf.org/en/publications/cr/issues/2019/12/18/barbados-2019-article-iv-consultation-second-review-under-the-extended-arrangement-request-48886)

## Other formats

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## Bibliographic details
- Published: December 18, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513523453.002

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### Summary and scope
- 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.

### Program implementation and performance
- 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.

### State-owned enterprises (SOEs) reforms
- Authorities continued reform of SOEs by:
  - completing a review of tariffs and fees charged by SOEs,
  - tightening reporting requirements,
  - reducing costs.

### External debt restructuring
- 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.

### Publication and metadata (preserved exactly)
- 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

### Subjects and keywords (preserved exactly)
- 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

*IMF 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.*

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_Source: https://www.imf.org/en/publications/cr/issues/2019/12/18/barbados-2019-article-iv-consultation-second-review-under-the-extended-arrangement-request-48886_