Barbados has been officially approved for Series “A” shareholder status by the Board of Directors of CAF – Development Bank of Latin America and the Caribbean, marking a major milestone in the island's international financial standing. This upgrade, CAF’s highest level of membership, positions Barbados for greater access to development funds and grants the country a seat on the bank’s board,...
The Caribbean Development Bank (CDB) and IDB Invest have joined forces in a renewed strategic partnership designed to accelerate private sector development and enhance trade finance access across the Caribbean. The announcement signals a major step toward strengthening the role of small and medium-sized enterprises (SMEs) in driving regional economic growth. This new collaboration places private...
Barbados has reached a significant milestone in its economic recovery journey with the successful conclusion of its IMF-supported reform programme, securing the final loan disbursement of approximately US$116 million (BDS$232 million) under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF). The IMF Executive Board approved the fifth and final reviews of both...
The upcoming launch of the CARICOM Payments and Settlement System (CAPSS) is set to transform how money moves across the Caribbean and between the region and Africa. Governor Timothy N. J. Antoine of the Eastern Caribbean Central Bank (ECCB) says the system will enhance trade, investment, and financial inclusion, particularly for Micro, Small, and Medium Enterprises (MSMEs). Speaking at the Caribbean...
A landmark collaboration between the International Finance Corporation (IFC) and the CARICOM Committee of Central Bank Governors aims to accelerate green investments across the English-speaking Caribbean, offering new hope for climate resilience, economic growth, and sustainable development in one of the world’s most vulnerable regions. At the core of this agreement is the creation of a regional...
Barbados has fortified its financial defences and reaffirmed its commitment to a stable currency through a strategic mix of repatriated funds and calculated foreign exchange sales, according to the Central Bank of Barbados’ latest annual report. The initiatives, aimed at preserving the fixed exchange rate of two Barbados dollars to one US dollar, have helped to shield the economy from external...
Barbados’ financial sector remained a pillar of economic strength in 2024, with commercial banks and finance companies continuing to play a vital role in supporting household and business savings, credit expansion, and economic activity. While overall profitability dipped compared to 2023, the sector still posted solid earnings and maintained a trajectory of asset growth, according to the latest annual...
Barbados has earned an upgrade in its long-term issuer ratings from B3 to B2 by Moody’s Ratings, reflecting the country's sustained fiscal discipline, economic recovery, and improved debt management. The outlook remains stable. According to Moody’s, the rating improvement stems from Barbados’ consistent primary surpluses, narrowing fiscal deficits, and a firm downward trajectory in public debt....
Barbados is charting an ambitious new course to solidify its status as a global insurance hub, with the Financial Services Commission (FSC) unveiling a series of strategic initiatives to boost efficiency, innovation, and regulatory agility in the $174 billion insurance sector. FSC Chairman Oliver Jordan, speaking at the recent Barbados Risk and Insurance Management (BRIM) conference hosted by BIBA –...
The Caribbean Development Bank (CDB) has introduced the SheTrades Caribbean Grow and Go Grant Facility, a USD 500,000 programme designed to strengthen the competitiveness of women-led businesses across the region. The initiative, launched virtually on March 27, 2025, marks a significant step toward enhancing women’s participation in international trade. Targeting women-owned and led micro, small, and...