Prime Minister Mia Amor Mottley has stated that Barbados’ foreign reserves are healthy, and they have never been at such a high level.
Ms. Mottley, who addressed the nation today at Ilaro Court, noted that despite the impact of COVID-19 on the economy, Barbados’ reserves stand at $2.6 billion. This was bolstered by the receipt of US $100 million from the Latin American Bank, also known as CAF.
“Our reserves, as we stand today, literally are at 2.656 billion… which is roughly about 35 weeks of import cover. This country has never had it with that level of reserves. So we are ready for all eventualities including those measures that are necessary to trigger growth and to get jobs going in 2021 among our people again,” Prime Minister stated.
She also noted that during several meetings throughout 2020 with the Social Partnership, decisions were made as a nation to ensure that we balanced lives and livelihoods.
“We are aware that there are issues and to that extent, that is why the Government continues to do what it can to carry those entities that have been regrettably affected, and those persons that have been regrettably affected… [and] we will continue to do so mercifully.”