The rapid flattening of the coronavirus curve in the post- lockdown period suggests that these early actions to strictly curtail activities were effective. This culminated into a 24-hour lockdown on all but essential services and a suspension of commercial airlift into Barbados at the beginning April. Enhanced screening measures were established at all ports of entry and restrictions on movement and economic activities were initiated within two-weeks of the first confirmed coronavirus case.
The government took swift actions to contain the spread of COVID-19. The safeguards assessment of the Central Bank of Barbados was completed in December 2018.Ģ. The IMF Executive Board approved a four-year Extended Arrangement under the Extended Fund Facility (EFF) to support Barbados’ stabilization program on October 1, 2018, and the third review of the EFF-supported program was completed on June 3, 2020. International reserves, which reached a low of US$220 million (5–6 weeks of import coverage) at end-May 2018, have increased to more than US$1 billion by end-October 2020, supported by strong fiscal adjustment before the COVID-19 pandemic, lending from international financial institutions, and external commercial debt restructuring. Barbados has made good progress in implementing the Economic Recovery and Transformation (BERT) plan-but faces major challenges owing to the global coronavirus pandemic.
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