Fiscal Paradise

Fiscal Blunders in Barbados Spell Gloom and Doom

Fiscal Blunders in Barbados Spell Gloom and Doom

arbados currently lacks the fiscal institutions to control the budget deficits and government spending. To put its fiscal house in order, Barbados’ government should publish a national set of accounts. These should include a balance sheet of its assets and liabilities and an accrual-based annual operating statement of income and expenses. These financial statements should meet international accounting standards and should be subject to an independent audit.