El FMI visita Jamaica para evaluar economía y avalar nuevos préstamos

A review team from the International Monetary Fund (IMF) headed by Jan Kees Martijn is now in the island.

New resident representative Dr Bert van Selm is also here and will be having meetings with public and private sector bodies.

The team will be here for more than a week to conduct a review ofJamaica’s performance under its agreement with the Fund for the quarter ending June 30.

Speaking at a Manchester Chamber of Commerce function on July 25, the Finance Minister, Dr Peter Phillips, said the Government was satisfied that targets for the first quarter have been met.

Yesterday, officials from the Ministry of Finance and Planning held key talks in preparation for the period of review.

While not revealing the outcome of the meetings, an official from the Ministry’s communication department told The Gleaner/Power 106 News Centre that the meetings are usually held ahead of each visit from the IMF team.

Under the IMF deal, approved on May 1, the Government will borrow approximately US$950 million under a four-year extended fund facility.

The loan will support the Government’s comprehensive economic reform agenda and forms a critical part of a total funding package of US$2 billion from Jamaica’s multilateral partners.

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