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New government should seek to extend IMF agreement: – Former Bank of Jamaica Boss
Tuesday, January 3, 2012
Former Governor of the Central Bank Derick Latibeaudiere believes the new People’s National Party (PNP) administration should seek an extended fund facility instead of a new standby agreement with the International Monetary Fund (IMF).
The current standby agreement expires in May.
An extended fund facility allows for the repayment of an IMF loan up to ten years after the agreement is signed while a standby agreement dictates that the IMF loan must be repaid within five years.
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