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IMF Barbados / Congo
Release Date: 23 May 2019
The IMF rejects criticism by opposition politicians in Barbados that its program with the island undercuts social spending and supports the progress made to date by Barbados, spokesman Gerry Rice told reporters Thursday in Washington, DC.
Barbadian Senator Crystal Drakes has hit out at the Mia Mottley administration that despite meeting the benchmarks set under the IMF-sanctioned Barbados Economic Recovery and Transformation program, overall the government is failing to provide for the people.
“We believe that the Barbados is economic reform and transformation plan was actually designed in close consultation with the social partners. That includes the unions who have actually formed a monitoring committee to oversee implementation to ensure that the burden of adjustment the burden of reform is spread widely with the domestic financial sector making a major contribution, with the domestic debt restructuring that was completed late last year,” Rice stated.
“In addition, the program in Barbados does have a floor on social spending and the December and March targets for social spending, I can tell you were met with with a margin actually with fairly ample margin all of which goes to say underlines the importance that the barbarian authorities attach to maintaining adequate social spending in the context of the program. And I can say the IMF fully supports these fully supports these measures,” said Rice.
And Rice rejected claims by some that the government of Congo Brazzaville is using insider back channels to negotiate with the IMF.
“I just like to sort of state the fact of the matter that discussions with the Republic of Congo in respect of possible fund support for Congo have been exclusively between fund staff and the authorities. No one else. It's an important point,” Rice announced.
You can see more about the IMF and Barbados at: https://www.imf.org/en/Countries/BRB
And you can see more about the IMF and the Republic of Congo at: https://www.imf.org/en/Countries/COG
04 Aug 2020
30 Jul 2020