Barbados: Staff Report for the 2005 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 297

Publication date: August 2005

ISBN: 9781451806052

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , current account , deficit , exchange rate , private sector credit , interest rate , public sector deficit , debt ratio , private sector , GDP deflator , central bank , Public sector , Government debt management , Current account deficits , Caribbean , Global

Also of interest

Nepal

Peru

Grenada

Republic of Congo : 2001 Article IV

Summary

This 2005 Article IV Consultation highlights that Barbados compares favorably with other Caribbean countries on economic and social indicators. The economy is heavily dependent on tourism and financial services. The population is about 272,000, and per capita income is about US$15,700. Poverty rates are the lowest in the Caribbean. Structural reforms have advanced in taxation, telecommunications, and the public enterprise sector. Corporate and personal tax rates have been further lowered, in line with the multiyear reduction in these rates initiated in FY2002/03.