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Political, Social and Economic Stability

 

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Barbados enjoys an enviable international reputation for its outstanding record of social, economic and political stability. Barbados' parliamentary system has been in existence since 1639, making it the 3rd oldest parliament in the British Commonwealth.  The country's long-standing tradition of parliamentary democracy and the prudent management of the economy provide a stable foundation for business. Also, the country's freedom from corruption rates highly - Transparency International's Corruption Perception Index 2017 ranks Barbados as 2nd in Latin America and the Caribbean, and 25th among 180 countries.

These positive features have also contributed to Barbados' ranking in the Index of Economic Freedom 2016 as the 9th freest economy in Latin America and the Caribbean and 45th in the world. Barbados is also ranked by the World Economic Forum's Global Competitiveness Report 2016-2017 as having the 4th most stable banking system in the Western Hemisphere.

Barbados is one of the most stable countries in the Caribbean, with the international business sector being a leading contributor to  economic growth. The government of Barbados is committed to maintaining the country's attractiveness as a centre for international business and continues to work with Invest Barbados and other stakeholders to ensure that the country remains a safe and welcoming place for foreign direct investment in the competitive global environment.


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