This economy profile for Doing Business 2016 presents the 11 Doing Business indicators for Barbados. To allow for useful comparison, the profile also provides data for other selected economies (comparator economies) for each indicator.
... See More + Doing Business 2016 is the 13th edition in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Economies are ranked on their ease of doing business; for 2015 Barbados ranks 119. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies from Afghanistan to Zimbabwe and over time. Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation. The data in this report are current as of June 1, 2015 (except for the paying taxes indicators, which cover the period from January to December 2014).
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This Country Data Report summarizes the data from the Worldwide Governance Indicators (WGI) project for Barbados. The WGI report six aggregate governance indicators for over 200 countries and territories over the period 1996-2014, covering: i) voice and accountability, ii) political stability and absence of violence, terrorism, iii) government effectiveness, iv) regulatory quality, v) rule of law, and vi) control of corruption.
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Ratings for the Second HIV/AIDS Project for Barbados were as follows: outcomes were moderately satisfactory, the risk to development outcome was low or negligible, the Bank performance was moderately satisfactory, and the Borrower performance was also moderately satisfactory.
... See More + Some lessons learned included: greater attention needs to be paid to implementation capacity at project outset, beyond the successful completion of a previous project. Implementation capacity assessments should also include an evaluation of project staff relative to project scope, and a skills assessment of staff needed to conduct key tasks. A better training process for financial management and procurement is necessary in the context of complex project design. It would be good to provide training in a timely fashion, and refresher training sessions when there are significant changes to project staff. Task teams should provide frequent and varied training opportunities to address these challenges. Projects where countries are reimbursed for eligible expenses should look into difficulties with the project design in the event of slow disbursement at the beginning of the project. Slow disbursement may be a result of a lack of understanding of eligible expenses or project design, or of financial difficulties in raising funds to make payments, even if they are reimbursed at a later date. Greater cultural consideration should be given when designing project activities and targets for indicators. Marginalization and stigma may also impede implementation, such as de-emphasis of certain key populations among other more acceptable groups, reluctance for surveys of these groups to take place, and poor outcomes due to late presentation to treatment and care.
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Implementation Completion and Results Report ICR3323 MAY 28, 2015
This economy profile for Doing Business 2015 presents the 11 Doing Business indicators for Barbados. To allow for useful comparison, the profile also provides data for other selected economies (comparator economies) for each indicator.
... See More + Doing Business 2015 is the 12th edition in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Economies are ranked on their ease of doing business; for 2015 Barbados ranks 106. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies from Afghanistan to Zimbabwe and over time. Doing Business measures regulations affecting 11 areas of the life of a business known as indicators. Ten of these areas are included in this year's ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency. Doing Business also measures labor market regulation, which is not included in this year's ranking. The data in this report are current as of June 1, 2014 (except for the paying taxes indicators, which cover the period from January to December 2013).
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The financial system faces a weak economic outlook and a deteriorating fiscal position posing substantial macroeconomic risks. As a result, sovereign risk has increased while the fixed exchange rate further limits policy options.
... See More + The financial system has sizeable sovereign risk exposures and non-performing loans are rising although high capital and liquidity buffers in combination with strong parent entities mitigate risks. Credit unions appear more vulnerable. Since the 2008 financial sector assessment program (FSAP), the regulatory and supervisory framework has improved across all sectors. Consolidated risk-based supervision was introduced in the banking sector along with a formalization of supervisory methodologies. The government has committed a major adjustment package aimed at stabilizing international reserves and consolidating the fiscal position. Even if planned policies are successful, Barbados will continue to face challenging growth prospects, driven by weakened tourism markets, including Canada, the United Kingdom, and the United States; increased competition from other offshore jurisdictions; and appreciation of the real effective exchange rate.
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Financial Sector Assessment Program (FSAP) 86947 MAR 01, 2014
This economy profile presents the Doing Business indicators for Barbados. In a series of annual reports, Doing Business assesses regulations affecting domestic firms in 189 economies and ranks the economies in 10 areas of business regulation, such as starting a business, resolving insolvency and trading across borders.
... See More + This year's report data cover regulations measured from June 2012 through May 2013. The report is the 11th edition of the Doing Business series.
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This regional profile presents the Doing Business indicators for economies in Caribbean States. It also shows the regional average, the best performance globally for each indicator and data for the following comparator regions: Common Market for Eastern and Southern Africa, East Asia Pacific Islands, Southern African Development Community, Latin America, and OECD High Income.
... See More + The data in this report are current as of June 1, 2013, except for the paying taxes indicators, which cover the period January to December 2012. Regional Doing Business reports capture differences in business regulations and their enforcement across countries in a single region. They provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. The report sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies, from Afghanistan to Zimbabwe, over time. The data set covers 47 economies in Sub-Saharan Africa, 33 in Latin America and the Caribbean, 25 in East Asia and the Pacific, 25 in Eastern Europe and Central Asia, 20 in the Middle East and North Africa and 8 in South Asia, as well as 31 OECD high-income economies. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why.
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This restructuring paper proposes to introduce changes in the Project Loan Agreement for the Second HIV/AIDS Project for Barbados. Its objectives are to: (i) modify the Project's institutional arrangements to strengthen the leadership and capacity by transferring coordination, disbursement, and financial management functions to the Ministry of Finance (MOF) and by transferring procurement, monitoring, evaluation, and supervision functions to the Ministry of Health (MOH); (ii) revise the results framework by changing the final target year for three indicators from 2012 when the surveys were expected to be done, to 2013, the end of the Project, and by changing the target for one indicator; and (iii) increase the percentage of Bank financing of Eligible Program Expenditures under Component 1 from 35 percent to 65 percent to accelerate the disbursement in order to successfully achieve the project's objectives.
... See More + The Bank has assessed the institutional capacity under the MOF and MOH for managing fiduciary functions and found it satisfactory. The revised governance structure will strengthen project leadership and improve capacity for better performance. The change to the target date for three results indicators is due to delays in conducting related surveys, the data for which will only become available in 2013. The change to the target for one indicator is intended to scale back a target value which had already been revised significantly above the initial target. The increase to the percentage of eligible Bank financing is in response to the global economic and financial crisis, which affected revenue generation in Barbados.
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This report gives 14 indicators that describe a country's macro fiscal environment to identify constraints or opportunities for health systems financing.
... See More + A country with a 10 percent unemployment rate that has fallen from 15 percent may be in better shape than one with an 8 percent unemployment rate that has risen from 4 percent. It is also important to benchmark to group averages of countries in the same World Bank (WB) region and income group- high income country (HIC), upper middle income country (MIC), lower MIC, or low income country (LIC).
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This tenth edition of Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations.
... See More + It measures and tracks changes in regulations affecting eleven areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and employing workers. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 185 economies, from Afghanistan to Zimbabwe, over time. The indicators are used to analyze economic outcomes and identify what reforms have worked, where and why. This economy profile presents the Doing Business indicators for Barbados. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June 1, 2012 (except for the paying taxes indicators, which cover the period January - December 2011).
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The objective of the Second HIV/AIDS Project for Barbados will support the implementation of the national strategic plan for HIV prevention and control 2008-2013, specifically to increase: (a) adoption of safe behaviors, in particular amongst key populations at higher risk; and (b) access to prevention, treatment and social care, in particular for key populations at higher risk.
... See More + The changes are to: (i) allow for Bank funding to support the development of a Health Management Information System (HMIS) under component two of the project to strengthen the country's capacity for evidence-based planning, (ii) modify all nine performance indicators to separate out the target from the indicator itself in the phrasing of each indicator and refine the definitions and targets, and (iii) increase Bank financing of component two expenditures for goods and consultants' services from 79 percent to 100 percent due to the difficulty in providing counterpart funding by the Government of Barbados due to the impact of the global economic and financial crisis.
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