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The country will on Friday hear the outcome of negotiations between Jamaica and the International Monetary Fund (IMF) concerning the country's impending application for a stand-by facility.
A senior official in the Government told RJR News Thursday night that a statement on the results of meetings with a team of IMF officials currently in the country will be issued by the Ministry of Finance Friday afternoon.
The statement is expected to indicate, among other things, whether Jamaica is on track to meeting the requirements for balance of payment support from the Washington-based institution.
Jamaica is planning to seek US$1.2 billion under a stand-by facility.
However, doubt is being expressed in some quarters that the Bruce Golding administration will meet its timetable to complete negotiations this month.
The Parliamentary Opposition has warned that last week's dismissal of Derick Latibeaudiere as Governor of the Bank of Jamaica will cause a setback.
Dr. Wesley Hughes, Financial Secretary, is now in charge of leading Jamaica's negotiating team.
An earlier statement from the IMF team in Jamaica issued on Tuesday said some progress has been made with the talks.
It said it is working closely with the authorities towards developing a strategy to address Jamaica's economic challenges and define policies which could be supported under a standby arrangement.
The discussions cover the current fiscal year, the 2010/2011 period as well as a range of policy options.
http://www.radiojamaica.com/content/view/22775/52/
A senior official in the Government told RJR News Thursday night that a statement on the results of meetings with a team of IMF officials currently in the country will be issued by the Ministry of Finance Friday afternoon.
The statement is expected to indicate, among other things, whether Jamaica is on track to meeting the requirements for balance of payment support from the Washington-based institution.
Jamaica is planning to seek US$1.2 billion under a stand-by facility.
However, doubt is being expressed in some quarters that the Bruce Golding administration will meet its timetable to complete negotiations this month.
The Parliamentary Opposition has warned that last week's dismissal of Derick Latibeaudiere as Governor of the Bank of Jamaica will cause a setback.
Dr. Wesley Hughes, Financial Secretary, is now in charge of leading Jamaica's negotiating team.
An earlier statement from the IMF team in Jamaica issued on Tuesday said some progress has been made with the talks.
It said it is working closely with the authorities towards developing a strategy to address Jamaica's economic challenges and define policies which could be supported under a standby arrangement.
The discussions cover the current fiscal year, the 2010/2011 period as well as a range of policy options.
http://www.radiojamaica.com/content/view/22775/52/