Business
Jamaica govt promises to resolve difficulties with IMF
The outstanding issues that have stalled the country’s loan arrangement with the International Monetary Fund (IMF) will be ironed out before the end of the year.This assurance came from Daryl Vaz, minister with responsibility for information…
The Jamaican government has indicated that the current difficulties with the International Monetary Fund (IMF) will be resolved by the end of the year.
The difficulties revolved around tax and pension reforms; the sale of Clarendon Alumina Partners and working out a formula for future wage settlements.
The difficulties have stalled the country’s loan arrangement with the IMF.
In February last year, Jamaica entered into a 27 month US$1.27-billion standby loan agreement with the IMF.
Meanwhile, the opposition insists the Government is not being forthright with Jamaicans regarding the status of IMF discussions. The opposition stress the need for the government to provide the public with precise information regarding the status of Jamaica’s IMF agreement and the timetable in resolving outstanding issues.