The International Monetary Fund (IMF) Friday said Barbados could receive US$90 million in December under the Fund’s Extended Fund Facility (EFF) if the island completes another round of review of its economic performances.
The Washington-based financial institution said that at the request of the Mia Mottley administration, an IMF team, led by Bert van Selm conducted a virtual mission between October 26-30 to discuss the implementation of Barbados’ Economic Recovery and Transformation (BERT) plan, which is supported by the Fund under the EFF.
“Following productive discussions, the IMF team and the Barbadian authorities reached a staff-level agreement on the completion of the fourth review under the EFF arrangement. The agreement is subject to approval by the IMF Executive Board, which is expected to consider the review in December,” van Selm said in a statement.
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