The International Monetary Fund has granted Jamaica a much-needed economic lifeline. In return, the island – one of the most indebted countries in the world – needs to get a grip on its rampant public spending. Inside a Cambio (currency exchange ), as the customers wait in line, the talk quickly turns to the exchange [...]
IMF Unlikely to Approve Jamaica Loan Before End of March
March 25, 2013 | Posted by
There is anxiety in Jamaica as to whether the schedule of the International Monetary Fund will allow the IMF to approve a much-anticipated $750 million loan for Jamaica before the end of March. When the IMF updated its executive board calendar last month and replaced Jamaica with the Philippines for the March 29 board meeting, [...]
Jamaica Agrees to Terms For $750 Million IMF Loan
February 17, 2013 | Posted by
Jamaica will receive a loan for $750 million from the International Monetary Fund, provided the country can develop a significant plan for economic reforms to reduce the national debt. That plan would include convincing private sector lenders to agree to more lenient terms for the country’s existing debt, along with efforts from government officials to [...]
Jamaica Facing Dismal Future With Debt Burden
February 13, 2013 | Posted by
Jamaica has announced plans for its second debt swap in three years in the face of a “serious economic crisis”. Prime Minister Portia Simpson Miller is taking measures to reduce its debt, which currently stands at 140% of gross domestic product (GDP), one of the highest ratios in the world. “If this debt is not [...]
IMF Predicts Near 4 Percent Growth for Guyana
December 3, 2012 | Posted by
The International Monetary Fund (IMF) says Guyana recorded another year of robust growth in 2011 supported by favorable external conditions, including rising foreign direct investment and low inflation. The Washington-based world financial body is predicting that the country’s economic growth for 2012 will be in the vicinity of 3.7 per cent. The IMF says the [...]
IMF: Haiti’s Economy Moving In A Positive Direction
June 16, 2012 | Posted by
Haiti’s economy is moving in a positive direction, though at a level below that projected by the International Monetary Fund’s Extended Credit Facility arrangement, the IMF said following the conclusion of its mission to Haiti. “The economy continues to grow, albeit below the levels projected in the ECF-supported program, which remains broadly on track,” the [...]
