NEWS

Jamaica Set To Get US$170m Under IMF’s Standby Agreement

Photo Source: Wikipedia – IMF Headquarters, Washington, DC.

According to a new release, Jamaica is expected to receive US$170 million at the end of April after meeting the benchmark targets under the International Monetary Fund (IMF) Standby Agreement.

Finance Minister Audley Shaw made the announcement Friday morning following the first IMF review under the agreement.

“The IMF executive board is scheduled to consider the review under the precautionary standby arrangement since April of 2017. The board approval, once granted, will allow the release of SDR$127 million (approximately US$170 million), which when added to the amount approved in November of last year, will make available approximately US$574 million available to Jamaica, in the event that it is needed,” Mr. Shaw told reporters.

Barbara Greene, Readers Bureau, Fellow

Edited by Jesus Chan

Do you want to add feedback to this story? Please add a comment in the box below or send us an email at info@thereadersbureau.com

Like our Facebook page https://www.facebook.com/TheReadersBureau

Follow us on Twitter https://twitter.com/readersbureau21