BARBADOS’ COFFERS ARE IN for a near $100 million top-up.
This is as a result of the International Monetary Fund (IMF) Executive Board’s approval yesterday of this country meeting all the programme targets in the first review under the Extended Fund Facility in March. The review is part of the conditionalities of the IMF loan, which include meeting a number of fiscal targets.
This approval means US$48.7 million (BDS$97.4 million) can be immediately disbursed out of the US$290 million IMF loan committed for the Barbados Economic Recovery and Transformation (BERT) programme. This would bring the total disbursement of IMF funds to US$98 million.