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IMF AGREEMENT SIGNED WITH JA Featured

Press Release Written by  CONTRIBUTED Friday, 15 February 2013 12:23 font size decrease font size increase font size 0
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    The International Monetary Fund (IMF) and Jamaica have reached an agreement on the Extended Fund Facility (EFF), a release by Head of the IMF mission to Jamaica, Jan Kees Martijin said.  
 
The following is the bulletin from the IMF:
 
 
“The mission has reached a staff-level agreement with the Jamaican authorities on the key elements of an economic program that can be supported by a 48-month arrangement under the Extended Fund Facility (EFF), in the amount equivalent to SDR479 million (about US$750 million or 175 percent of quota). We have agreed on understandings that are reflected in the authorities’ economic program, as stated in the Letter of Intent that will be reviewed by IMF Management and finalized before the agreement is approved. Staff envisages that the IMF’s Executive Board would consider the proposed arrangement under the EFF by the end of March, subject to the timely completion of prior actions to be taken by the Jamaican government and obtaining necessary financing assurances.
 

 

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