IMF dispenses cash, advice for COVID recovery
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December 10, 2020
The International Monetary Fund on Wednesday announced it is boosting the island’s coffers by nearly $200 million to help it dig out from under the COVID-19 pandemic even as it continues to lend to the island’s two-year-long fiscal revival.
As the pandemic’s economic crisis continues to pose a major challenge for the Barbados economy, the IMF’s number two man suggested the way the island does business and diversifying the economy will drive the country’s recovery.
But in the IMF’s latest review, Deputy Managing Director and Acting Chairman Tao Zhang also eyed further cuts in Government subventions to state-owned enterprises as necessary to restoring fiscal sustainability.