Tag Archives: BERT

IMF Executive Gives Thumbs Up!

The following is Press Release No. 19/235 on Barbados first review under the extended fund facility – David, Barbados Underground IMF Executive Board Completes First Review Under the IMF’s Extended Fund Facility for Barbados and Approves US$48.7 Million Disbursement June 24, 2019 The completion of the review enables an immediate disbursement of SDR 35 million (about US$48.70 million). A four-year

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Closer Look at IMF’s Austerity Programme for Barbados

Submitted by Tee White On 17 May, an IMF team led by Bert van Selm, a Dutch economist and senior IMF functionary, held a press conference in Barbados’ capital, Bridgetown. At this, they announced their findings, after a 10 day review of the country’s implementation of its IMF approved austerity programme, the Barbados’ Economic Recovery and Transformation (BERT) plan. A

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The Grenville Phillips Column – The Incurable Disease

We are now in BERT Phase 3.  After the IMF’s recent assessment of the previous phases, the result of the BERT severe austerity program is foreseen – the BLP administration will meet the IMF’s targets. To reduce government spending, the trend of laying-off persons will continue as planned.  To reduce the transfers to government corporations, we will be forced to

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The White Elephant in the Room

Submitted by Kemar J.D, Banking & Finance Student, University of the West Indies, Cave Hill Campus Barbados is currently under the BERT program funded by the IMF to undertake structural adjustment in the political economy. With the domestic debt profile of the economy being restructured to the detriment of local investors this gave the Government of Barbados a reduction in

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IMF Gives Green Light to BERT BUT…

The blogmaster must be honest and admit that the reform and structural changes required to transform the Barbados economy and society will have its negative impact. No austerity program can be rolled out without negatively affecting people. Unless one is rabidly partisan or dishonest it is obvious the work rate of the BLP government is much higher than that of

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The Grenville Phillips Column – Let Sleeping Dogs Sleep

We should celebrate good news, and the recent upgrades by international rating agencies is good news, especially after a decade of consistent downgrades. So, well done BLP. Despite their partisan behaviour during the last general election, the national watch dogs are whispering a word of caution. However, before we review their caution, let us put Barbados’ economic situation in context.

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