Barbados’ Foreign Reserves At Lowest Level In More Than A Decade

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Governor of the Central Bank of Barbados Dr DeLisle Worrell

(CARIBBEAN360) Barbados’ foreign reserves have fallen to the lowest level in 14 years, according to Governor of the Central Bank of Barbados Dr DeLisle Worrell.

However, Worrell sought to calm nerves by revealing that Government was anticipating over $250 million, although he did not say how much of that cash would come before the end of the current fiscal year, which ends March 31.

In delivering his latest report on the economy yesterday, the Governor said the reserves had fallen below the benchmark 12 weeks of import, standing at about 10.3 weeks.

The $681 million in reserves at the end of December 2016 was $246 million less than the $927 million – or 14 weeks of imports – recorded at the end of 2015.