KINGSTON, Jamaica—The International Monetary Fund (IMF) has approved a new 36-month precautionary Stand-By Arrangement for Barbados valued at US$257 million, giving the country access to emergency financing if external shocks create balance of payments pressures.

The arrangement, approved on Monday, June 22, amounts to Special Drawing Rights (SDR)189 million, or 200 per cent of Barbados’ quota. It gives the country immediate access to SDR 47 million, equivalent to US$64 million, although Barbadian authorities have said they intend to treat the facility as precautionary.

The IMF said the arrangement will provide insurance against shocks while helping to preserve macroeconomic stability and support reforms under the Barbados Economic Recovery and Transformation Plan 2026, known as BERT 2026.