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IMF Delegation To Arrive Today
Published: Tuesday January 17, 2012 | 8:53 am0 Comments
Jerome Reynolds, Gleaner Writer
The Government and the International Monetary Fund (IMF), are to resume talks today on Jamaica’s standing with the multilateral lending agency.
An IMF delegation is expected to arrive in the island today to hold exploratory talks with Finance Minister Dr. Peter Phillips and a high-level team.
The parties are expected to discuss the current status of the Jamaican economy and the prospects for the medium term.
It is also expected that the government and the IMF will seek to identify a work plan for a continued formal relationship.
The IMF has not conducted a performance review of the economy for more than a year, as the country is yet to meet certain targets under the stand-by loan arrangement.
The government has said it will seek to renegotiate the IMF loan.
Dr. Phillips said the Government’s policy preference is for an arrangement that will provide enough time to achieve sustainable growth while completing the fiscal and other economic reforms.
And it is expected that the Administration will be seeking an extended fund facility instead of a new standby agreement with the IMF.
Published: Tuesday January 17, 2012 | 8:53 am0 Comments
Jerome Reynolds, Gleaner Writer
The Government and the International Monetary Fund (IMF), are to resume talks today on Jamaica’s standing with the multilateral lending agency.
An IMF delegation is expected to arrive in the island today to hold exploratory talks with Finance Minister Dr. Peter Phillips and a high-level team.
The parties are expected to discuss the current status of the Jamaican economy and the prospects for the medium term.
It is also expected that the government and the IMF will seek to identify a work plan for a continued formal relationship.
The IMF has not conducted a performance review of the economy for more than a year, as the country is yet to meet certain targets under the stand-by loan arrangement.
The government has said it will seek to renegotiate the IMF loan.
Dr. Phillips said the Government’s policy preference is for an arrangement that will provide enough time to achieve sustainable growth while completing the fiscal and other economic reforms.
And it is expected that the Administration will be seeking an extended fund facility instead of a new standby agreement with the IMF.
