Tag: IMF


IMF Upgraded Its Growth Forecast For Latin America To 4.1% For 2021

The International Monetary Fund (IMF) raised Latin America’s growth forecast for 2021 to 4.1%, five-tenths of a percentage point higher than predicted in October as the Covid-19 vaccine distribution process accelerates.  Last year, the Latin American regional economy plunged -7.4%, according to the new Global Economic Prospects report, released on Tuesday.  According to the information published by the newspaper El Tiempo, […]


IMF Warns That The Global Economy Is Losing Steam

The surge in COVID-19 infections has prompted a new warning from the International Monetary Fund (IMF). The international agency has warned that the global economic recovery may not be as robust as first anticipated. Fund chief Kristalina Georgieva said more financial help is needed and warned countries against withdrawing aid too soon. Although the new vaccine developments are viewed positively, […]


Barbados Passes IMF Test

The International Monetary Fund (IMF) says Barbados has passed all the indicative targets under the Extended Fund Facility (EFF) to date and that good progress also continues to be made towards implementing structural reform under the facility. Bert van Selm, who led an IMF delegation that conducted a staff visit via videoconferencing over the past three days, says Barbados’ international […]


Bahamas Gets IMF’s Help

The International Monetary Fund (IMF), is warning that the Bahamas is facing a deep recession due to the unprecedented crisis caused by the combination of COVID-19 and Hurricane Dorian. Mr. Tao Zhang, Deputy Managing Director and Acting Chair said, “The Bahamas was just recovering from the widespread destruction caused by Hurricane Dorian in the fall of 2019, when the pandemic […]


Barbados Gets IMF’s US$139 million

The International Monetary Fund (IMF) has announced that it was making US$139 million available to Barbados. The disbursement is to assist the country in its implementation of the comprehensive Economic Recovery and Transformation (BERT) plan to turn around the economy. The Washington-based financial institution says the funds followed the successful third review of the IMF’s extended arrangement under the Extended […]


IMF: Jamaica Gets $520 Million To Cushion Economic Fallout

Recently, Dr. Manuela Goretti, the International Monetary Fund’s (IMF) Mission Chief for Jamaica, said that the government would have access to a sum of US$520 million approved by the Fund’s Executive Board. The money is being disbursed under the IMF’s Rapid Financing Instrument. Minister of Finance, Dr. Nigel Clarke, wrote to the IMF on April 15, requesting access to the […]


IMF — Haiti Gets US$111.6 Help

The executive board of the International Monetary Fund (IMF) has approved US $111.6-million disbursement to Haiti under the Rapid Credit Facility. The money will help to offset the country’s essential health-related expenditures and to ease the impact of the novel coronavirus (COVID-19). In the meanwhile, Haiti’s Government has announced measures to support workers and households, including paying salaries and providing […]


Tough Times Ahead For Latin America And The Caribbean

The IMF, the World Bank, and the Inter-American Development Bank have predicted tough times ahead for the Caribbean and Latin American countries this year. The IMF says the region is likely to see a 5.2% decline in growth while The World Bank says Gross Domestic Product is expected to be -4.6%. Those forecast to see the worst are Grenada and […]


IMF Warns

The head of the International Monetary Fund (IMF) has warned that the coronavirus pandemic will turn global economic growth “sharply negative” this year. Kristalina Georgieva said the world faced the worst economic crisis since the Great Depression of the 1930s. She forecast that 2021 would only see a partial recovery. Lockdowns imposed by governments have forced many companies to close […]


IMF Sees Weaker Growth For Jamaica

As the International Monetary Fund (IMF) prepares to exit its program with Jamaica, the organization has pointed to a weaker growth outlook than projected at the start of the program for the country. Dr. Uma Ramakrishnan, former head of the IMF team for Jamaica, stated recently in an interview that although growth supported by mining, construction, and agriculture industries has […]