A Study On The International Monetary Fund's Impact On Barbados' Social Stability(1991-2018)

As a new administration in Barbados took office in May 2018,they were faced with a fiscal crisis that could ultimately fracture the social webbings of society.Prime Minister Mia Mottley realised the urgency in balancing the economy,so she enacted the help of the International Monetary Fund to ease the crisis they were facing.This paper gives an accurate detail on the history of IMF policy recommendations on economic stabilization but more importantly how these policy recommendations impacted social stabilization.The initial research showed that the International Monetary Fund is a very influential institution and countries are more than reluctant to accept conditionality clauses in order to get the support they need.These clauses can be detrimental especially on a developing society.However,in the case of Barbados,the relationship has turned out to be positive.This thesis explores what factors have led to such a positive result and the evidence shows that Barbados takes the suggestions of the IMF,but they adapt them to benefit the society in a more profound way.Meanwhile,IMF's transparency policy,tax reform and social dialogue with Barbados have also contributed to the positive effects.