Barbados: Staff Report for the 2000 Article IV Consultation

Barbados has a stable political system, and there is long-standing public consensus on key economic policies, including a fixed exchange rate with the U.S. dollar supported by prudent fiscal and wage policies. Owing to job creation mainly in the private sector, particularly construction, the unemployment rate continued to decline, reaching 9.8 percent at the end of 1999, 2 percentage points lower than a year before. The authorities' medium-term strategy aims at stabilizing and restructuring the economy to address ongoing trade liberalization.
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Volume/Issue: Volume 2000 Issue 158
Publication date: December 2000
ISBN: 9781451805970
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Topics covered in this book

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Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , tourism sector , deficit , liberalization , bankruptcy bill , government , private sector confidence , telecommunication sector , zero-tolerance policy , Public sector , Public enterprises , Offshore financial centers , Caribbean , Global

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Summary

Barbados has a stable political system, and there is long-standing public consensus on key economic policies, including a fixed exchange rate with the U.S. dollar supported by prudent fiscal and wage policies. Owing to job creation mainly in the private sector, particularly construction, the unemployment rate continued to decline, reaching 9.8 percent at the end of 1999, 2 percentage points lower than a year before. The authorities' medium-term strategy aims at stabilizing and restructuring the economy to address ongoing trade liberalization.

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