Barbados.

Fiscal anchor

Public debt to 60% of GDP by FY2035/36 (BERT 2026, reaffirmed under the May 2026 precautionary SBA staff-level agreement); primary surplus 4.1% of GDP target for FY2026/27 (Central Bank of Barbados, April 2026 outlook), tapering thereafter.

IMF programme status

Precautionary SBA staff-level agreement May 2026 (SDR 189m / ~US$260m, 36 months); Executive Board approval expected June 2026

Notes

Headline debt-to-GDP figure (102.5%, 2025) is the gross public sector debt level reported in IMF Country Report 25/153 and used in BERT 2026; the IMF WEO April 2026 general government series shows 94.2% for the same year, and the Central Bank of Barbados Q1 2026 Review reports the debt-to-GDP ratio at 94.6% at end-FY2025/26, the difference reflecting public-sector vs general-government coverage. The headline primary balance figure 4.2% is the FY2025/26 outturn reported by IMF Press Release 26/151 (14 May 2026), revised slightly upward from the 4.0% reported by the Central Bank of Barbados (Review of the Barbados Economy, January to March 2026, 29 April 2026) and from the 4.4% target previously cited in BERT 2026 and IMF Country Report 25/153; the government targets 4.1% in FY2026/27 per the CBoB April 2026 Outlook. Real GDP expanded 1.7% in Q1 2026 and 2026 growth is projected within a 2 to 3 percent range by the CBoB; the IMF WEO April 2026 projection is 2.1% and the IMF country page now shows 2.5% for 2026, while IMF Press Release 26/151 reports a 2025 outturn of 2.7% and characterises 2026 growth qualitatively as positive but at a more moderate rate. The IMF Article IV mission was in country from 4-14 May 2026 (led by Mission Chief Michael Perks) and concluded with a staff-level agreement on a 36-month precautionary Stand-By Arrangement of SDR 189 million (~US$260 million), to be considered by the IMF Executive Board in June 2026.