Barbados Commended By IMF For Progress With BERT Plan

Barbados was recently commended by the International Monetary Fund (IMF) for making "good progress" with regards to implementing the Barbados Economic Recovery Transformation (BERT) plan, despite the various challenges the country has encountered including the global pandemic, the volcanic ashfall emanating from La Soufrière in St. Vincent and the impact from Hurricane Elsa.

This was stated in the December 2021 edition of the IMF Country Report for Barbados. Of note is that as part of the BERT programme, Barbados has successfully met all of its targets so far within the IMF's extended arrangement under the Extended Fund Facility. As such, the country was able to draw the most recent tranche of funds, which equates to approximately US$24 million, to assist with the management of the economic affairs of the country.