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This Country Program Evaluation (CPE) is the third independent evaluation of the Inter-American Development Bank's (IDB's) Country Program with Barbados. This CPE spans December 2009 to October 2013, a period marked by a substantial increase in central government debt and decreasing tourism receipts. Over this time the Bank favored the use of fast-disbursing instruments, including in its portfolio two programmatic policy-based loans in the energy sector. The evaluation is structured in four chapters. Chapter 1 analyzes the economic developments of the Barbadian economy over 2009-2013 and considers the medium-term prospects. Chapter 2 analyzes the strategic and financial relevance of the Bank's program and covers the major implementation challenges the country and the Bank have faced in recent years. Chapter 3 discusses the results achieved in the four strategic areas identified in the 2009-2013 Country Strategy and also in the public sector modernization and private sector development areas from the 2005-2009 Country Strategy. Chapter 4 presents concluding remarks and recommendations. The annexes provide the figures that support the analysis in Chapters 1, 2, and 3.
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