The Executive Board of the International Monetary Fund yesterday approved the completion of Jamaica’s first quarter review under the Extended Fund Facility.
This approval has paved the way for a second draw down of $30.6 million under the program and support from other multilateral development partners, including the Inter-American Development Bank and the World Bank.
A statement released by the Ministry of Finance said, “Jamaica remains on track to meet all the quantitative targets for the quarter ending Sept. 30, and we expect that it will successfully complete the second review under the EFF which is expected to go to the IMF executive board for approval before the end of December 2013″.
The Minister of Finance and Planning Peter Phillips will make a statement to Parliament on Oct. 1.
source: JamaicaObserver.com
