May 2011 Financial News

IMF forecasts growth in Bdos

May 19, 2011

The International Monetary Fund predicts the Barbados economy is on a comeback. The bank, in an analysis of the economic situation in the Caribbean island, said the economy is beginning to recover as growth started to pick up early this year. Analysts predict real gross domestic product in Barbados will grow by about two per cent this year mainly due to higher tourist arrivals, signaling the onset of a recovery from the slow growth in 2010 and the two earlier years of negative growth.

The IMF team also welcomed the launch of the Financial Services Commission, which will bring under one umbrella the supervision of insurance, credit unions, securities and international financial services, will strengthen the regulation and supervision of non-bank financial institutions.

And they lauded the appointment of a judicial manager for Clico Life Insurance and expressed support for a prompt resolution that minimizes fiscal contingent liabilities while emphasising the need for a regional mechanism for coordination of crisis resolution in future events to ensure regional financial stability.
newsamericasnow.com


Source:
Trinidad Guardian
Thursday May 19, 2011

http://guardian.co.tt/business-guardian/2011/05/18/imf-forecasts-growth-bdos