Barbados - Economic memorandum

Report No. 2%7-BAR Economic Memorandum on Bads4F A May 30, 1980 Latin America and the Caribbean Regional Office FOR OFFICIAL USE ONLY Document of the World Bank This document has a restricted distribution and may be used by recipients oriy in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EQUIVALENTS Currency Unit: Until November 1973 Eastern Caribbean Dollar (EC$) Since December 1973 Barbados Dollar (BDS$) December 1971 US$1.00 = EC$1.975 EC$1.00 - us$0.506 Since July 1975 US$1.00 = BDS$2.00 BDS$1.00 = US$0.50  FOR OFFICIAL USE ONLY This report is based on the work of an IBRD economic mission to Barbados in November 1979. The mission consisted of: Constance Bernard (Chief of Mission), Carlos Elbirt (Economist), and Jessica Mott (Fiscal Analyst). IThis document has a restricted distribution and may be used by recipients only in the performance of their oMcial duties. Its contents may not otherwise be disclosed without World Dank authorization.   TABLE OF CONTENTS Page No. MAP COUNTRY DATA SUMMARY AND CONCLUSIONS ................................... i-iv I. ECONOMIC BACKGROUND ..... ............................... 1 II. DEVELOPMENT ISSUES AND STRATEGY ........................ 4 III. PUBLIC SECTOR INVESTMENT AND FINANCING .. ............... 8 IV. GROWTH PROSPECTS AND BALANCE OF PAYMENTS OUTLOOK ....... 12 ANNEX I: RECENT FISCAL MEASURES ANNEX II: GOVERNMENT'S PROJECT LIST STATISTICAL APPENDIX   IBRD 11044 c \ soe o 7