Barbados: Staff Report for 2013 Article IV Consultation
Electronic Access:
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Summary:
This 2013 Article IV consultation highlights Barbados’ weak economic performance and high public debt. Foreign reserves are under pressure as fiscal and external imbalances widened in 2012 and further in 2013. Recognizing the need for urgent action, the authorities announced ambitious budget consolidation proposals in 2013 aimed at strengthening the fiscal position and arresting the slide in reserves. Recent fiscal measures, if fully implemented, should stabilize debt levels by 2016. However, downside risks are considerable, and failure to implement corrective policies could result in a disorderly adjustment process. Even with full implementation, fiscal financing pressures and external sector sustainability would remain challenging.
Series:
Country Report No. 2014/052
Subject:
Economic sectors Expenditure Fiscal consolidation Fiscal policy Public debt Public sector Revenue administration
English
Publication Date:
February 12, 2014
ISBN/ISSN:
9781475557077/1934-7685
Stock No:
1BRBEA2014001
Pages:
82
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