International Monetary Fund (IMF) Caribbean Member Countries are being encouraged to lead take-up of the institution’s multibillion-dollar Resilience and Sustainability Trust (RST).
The RST is aimed at helping countries build resilience against external shocks and ensure sustainable growth, contributing to their long-term balance of payments stability.
Managing Director, Kristalina Georgieva, said that Caribbean countries are ideally positioned to tap into the facility based on their response to weather and health-related shocks and crises, including the coronavirus (COVID-19) pandemic.
She noted that several countries have taken decisive action over the last several years to build strong capacity to buffer themselves against these shocks, citing Jamaica and Barbados as examples.
“The lesson from this to everyone [is] to do as much as you can to build that economic financial resilience. I appeal to you, the Caribbean, [to] lead the way [in tapping into the RST],” the Managing Director urged.
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Edited by Jesus Chan
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