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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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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The International Bank for Reconstruction and Development (IBRD)/International Development Association (IDA) trust funds country report FY2009-FY2011 Q1 for Barbados includes: disbursements, approvals, and pending requests.
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The Status of Projects in Execution (SOPE) Report for FY10 provides information on all International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), and trust funded projects that were active as of June 30, 2010.
... See More + The report is intended to bridge the gap in information available to the public between the project appraisal document or program document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY10 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date.
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This country level trade brief summarizes insights from the world trade indicators database as well as analyzes national impacts and responses to the food crisis and global recession.
... See More + The trade at a glance tables for Barbados provide a snapshot of key aspects of trade policy and performance.
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The Status of Projects in Execution (SOPE) report for FY09 provides information on all International Bank and Rural Development (IBRD)/International Development Association (IDA) projects that were active on June 30, 2009.
... See More + The report is intended to bridge the gap in information available to the public between the project appraisal document, disclosed after the Bank approves a project, and the implementation completion report, disclosed after the project closes. In addition to the project progress description, the FY09 SOPE report contains project level comparisons of disbursement estimates and actual disbursements, and a table showing the loan/credit/grant amount and disbursements to date for all active projects.
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