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Gov’t and IMF to make decision on JDX bail out fund

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  • Gov’t and IMF to make decision on JDX bail out fund

    The Government and the International Monetary Fund (IMF) will on Wednesday discuss what to do with the money set aside to bail out financial institutions in the Jamaica Debt Exchange (JDX) programme earlier this year.
    Nine hundred and fifty million dollars was allocated to help prop up entities whose operations came under pressure to accept lower interest rates on Government Paper.
    However, financial institutions have not required the funds.
    The discussion on what to do with the unused money form part of the IMF review of Jamaica's performance under the stand-by arrangement.
    A team from the Washington-based agency is now in the island assessing the country's performance.
    Last week, the Central Bank said it expects Jamaica to pass the second quarterly IMF test.
    "Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)

  • #2
    Can imagine the phone calls being made by Edith, Molly, Anderson etc ... 950 million deh bout?
    "Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)

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