Barbados: Staff Report for the 2002 Article IV Consultation
Volume/Issue:
Volume 2003
Issue 044
Publication date: March 2003
ISBN: 9781451806021
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , deficit , staff appraisal , government , IMF staff representative , Barbadian authorities , deficit of the central government , overall deficit , Public sector , Public enterprises , Wage adjustments , Caribbean , Global
Summary
This 2002 Article IV Consultation highlights that eight consecutive years of growth in Barbados ended in 2001 as real GDP contracted by 2¾ percent, owing mainly to the adverse impact on tourism of the global economic slowdown and the September 11 terrorist attacks, as well as continuing declines in agriculture and manufacturing output. To lessen the impact of the September 11 attacks, the authorities implemented a national emergency program in the fourth quarter of 2001. Broad money grew by 5½ percent in 2001, reflecting capital inflows and an increase in international reserves.
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