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NIR soon Tun Up!!! Exchange Rate agguh level at bout $102!!!! Budget safe!!!!! Wi noice again!! Hero Petah tuh di Rescue again!!! 
IMF considers larger loan to Jamaica; board to meet end of April
Monday, April 08, 2013 | 1:44 PM
KINGSTON, Jamaica - The International Monetary Fund’s (IMF’s) management said that it will add US$200 million to Extended Fund Facility (EFF) for Jamaica.
It also plans to recommend the approval of the US$958 million arrangement to its board, which is expected to meet on the matter at the end of April, according to a press statement issued this afternoon.
“The Fund welcomes the progress that has been made in the implementation of the programme thus far including the authorities' efforts to complete the prior actions and structural benchmarks, and on the assembling of a financing package,” said the press release.
“The success of this programme crucially depends on full and timely policy implementation by Jamaica of a coordinated set of reforms, to strengthen the public finances, restore debt sustainability, enhance growth, and bolster the resilience of the financial sector.”
In a conference call this morning, the IMF said that the disbursement of funds, after approval, would be front loaded, although they didn’t say what the first trance would pay out.
Meanwhile, the Net International Reserves, for which the EFF is meant to support, fell to US$884.25 million, representing 11.49 weeks of imports at the end of March, from US$939.5 million (11.92 weeks of imports) at the end of February.
The international benchmark, below which foreign reserves are deemed low, is 12 weeks
More information later.
Read more: http://www.jamaicaobserver.com/busin...#ixzz2Pu2aOxZg
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