Barbados central bank hopeful for international business rebound
Sector suffered after sanctions imposed due to country’s low tax rates
The Central Bank of Barbados is hopeful its international business sector will return to its previous strength, after the country was removed from the European Union’s tax haven blacklist.
In an interview with Barbados Today, governor Cleviston Haynes said he was confident the financial sector will recover.
Barbados’ international business sector contributed about 20% of the island’s GDP in 2017, but has since plummeted to less than half of that amount.
The country is an attractive investment
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