Barbados has recorded its highest-ever foreign reserves of $3.2 billion for September.
The Central Bank of Barbados reported the country recorded economic growth of 3.9 per cent in the first nine months of 2024, despite challenges from Hurricane Beryl and global economic uncertainties.
Delivering the bank's report card on the performance of the economy for the first nine months of this year, Governor Dr Kevin Greenidge said the economy maintained steady growth driven by tourism, business services, and construction industries.
However, the top economist informed the country that because much of what residents consume is imported, the bank is limited in its capacity to implement any monetary ease that could cushion price increases.
He pointed to some potential food price hikes for the year ahead.
He also reported a steady decline in the debt-to-GDP ratio, which now stands at 105.6 per cent.
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