01793cas a2200241 a 4500 AALejournalIMF018500 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484358320 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Barbados : Selected Issues. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (19 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Selected Issues paper summarizes recent development in Barbados's International Business and Financial Services (IBFS) sector and assesses the extent to which the loss of correspondent banking relationships (CBRs) pose a risk to its future. The contribution of the IBFS sector to the local economy has been relatively stable in recent years but its contribution to fiscal revenues has declined. The sector has displayed lower profitability since the global financial crisis. More recently, it suffered from two changes in Canadian tax legislation. Consequently, tax revenues have declined while other expenditures have largely offset such decline. The sector also faces some risks from the loss of CBRs that has affected most Caribbean countries. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2018/134 Full text available on IMF http://elibrary.imf.org/view/journals/002/2018/134/002.2018.issue-134-en.xml IMF e-Library