Minister in the Ministry of Economic Affairs and Investment, Marsha Caddle, says Barbados’s foreign exchange reserves stood at over a billion Barbados dollars this morning.
She credits government’s quick action in reaching a deal with the International Monetary Fund, IMF, that was able to provide backing for the current Economic Recovery and Transformation Plan. She notes this was achieved in record time, three and a half months.
Ms Caddle’s comments came this morning as she addressed members of the Barbados Association of Insurance and Financial Advisers attending the 25th annual Blast Off 2019 – Back to Basics seminar at the Hilton Barbados Resort.
Ms. Caddle also notes that the national debt has declined from nearly 170 per cent of GDP in May last year to 124 per cent this year and is projected to further decline in the near future.