November 8, 2018 |
The Inter-American Development Bank (IDB) said it has granted a $100m loan for the government of Barbados to restore economic stability and save some social spending programs.
The four-year loan, with an interest rate based on Libor, comes with a one-year grace period, the IDB said in a press release.
Barbados' macroeconomic emergency program includes debt restructuring, privatizing state-owned businesses and labor reforms. It also involves granting more autonomy to the central bank to limit f
Multilateral lender supplies $100m to go along with $290m from the IMF and $75m from the CDB