Barbados, the easternmost Caribbean island, is an English-speaking country 21 miles long by 14 miles wide, with approximately 285,000 inhabitants. Barbados enjoys a longstanding democratic tradition and a strong commitment to the rule of law and political and economic freedoms. The main objective of Barbados’ monetary policy is to preserve the fixed exchange rate with the U.S. dollar, which has remained at two Barbadian dollars to one U.S. dollar since 1975. Barbados’ per capita income remains one of the highest in the Eastern Caribbean region, and the country ranks high in the United Nations Development Program’s Human Development Index. Barbados’ economy is services- driven with tourism and financial services as the main drivers. Barbados remains an import-driven economy and the United States continues to enjoy a trade surplus with Barbados. Exports fell by 13% to USD$504.7 million largely due to the challenges associated with the Covid-19 pandemic and the closure of the tourism sector in 2020. Barbados entered a stand-by agreement with the International Monetary Fund (IMF) in late 2018. Barbados’ IMF agreement has been subsequently augmented under the Extended Fund Facility in 2020 and 2021 to mitigate the impact of the Covid-19 pandemic.