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"The Government today inked a deal with the Inter-American Development Bank (IDB) that will see the multilateral lending agency lend US$200 million ($17.2 billion), in line with expected total approvals of US$600 million in 2010
Finance minister Audley Shaw said the total loan package for 2010 "represents the largest loan to a country as a percentage of its GDP in the IDB's history".
Minister of Finance and the Public Service, the Hon Audley Shaw (centre) affixes his signature to an agreement between Jamaica and the Inter-American Development Bank (IDB) for a US$200-million policy-based loan. At right, is IDB President Luis Alberto Moreno, while Jamaica's Ambassador to the United States, Her Excellency Audrey Marks looks on.
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"This represents an extraordinary level of confidence being shown by the IDB in the policies of
the Government of Jamaica," he said.
The loan, under the Government's Fiscal Consolidation Programme, is to support the GOJ's
efforts to achieve fiscal policy goals over the short and medium term, which involves achieving stable, sustained growth in a context of sound macroeconomic policy; a consolidated fiscal balance, focusing on increasing tax revenue, streamlining expenditure and reforming the public sector. It will include a comprehensive debt management strategy that addresses the debt overhang; a strengthened fiscal responsibility framework; and increased customs efficiency."
The last paragraph is probably all Greek to the comrades and Omar Davis fan club.
18 years of this brand of Governance and Jamaica good again.
Finance minister Audley Shaw said the total loan package for 2010 "represents the largest loan to a country as a percentage of its GDP in the IDB's history".
Minister of Finance and the Public Service, the Hon Audley Shaw (centre) affixes his signature to an agreement between Jamaica and the Inter-American Development Bank (IDB) for a US$200-million policy-based loan. At right, is IDB President Luis Alberto Moreno, while Jamaica's Ambassador to the United States, Her Excellency Audrey Marks looks on.
1/1
"This represents an extraordinary level of confidence being shown by the IDB in the policies of
the Government of Jamaica," he said.
The loan, under the Government's Fiscal Consolidation Programme, is to support the GOJ's
efforts to achieve fiscal policy goals over the short and medium term, which involves achieving stable, sustained growth in a context of sound macroeconomic policy; a consolidated fiscal balance, focusing on increasing tax revenue, streamlining expenditure and reforming the public sector. It will include a comprehensive debt management strategy that addresses the debt overhang; a strengthened fiscal responsibility framework; and increased customs efficiency."
The last paragraph is probably all Greek to the comrades and Omar Davis fan club.
18 years of this brand of Governance and Jamaica good again.
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