The government of Barbados to commence discussions with the IMF this week

The government of Barbados this week will begin discussions with the International Monetary Fund (IMF) as it relates their and the government's debt with the IMF as well as those with domestic and foreign creditors.  In a press release, Finance Minister Ryan Straughn said Barbados’s negotiating team will work with IMF representatives from 2 to 12 July.   Straughn said the IMF officials had already started requesting data that Barbados was in the process of finalizing, such as the details on what was required to expand the economy over the next 10 years and the particular path to achieve sustainable growth. The official added that before 12 July, Barbados could have in place at least a working agreement. The government aims to get an IMF board agreement as soon as possible after the IMF team leaves Barbados on 12 July and goes through its internal review process in Washington. Prime Minister Mia Amor Mottley said on 1 June that Barbados’s public debt was as high as 171% of GDP and announced the suspension of external-debt payments and a debt restructuring, as reported.

 

Source: STIFEL