IMF Frees Aid for St. Lucia

The International Monetary Fund will release $10.7 million to help St. Lucia deal with the impact of the worldwide economic and financial slump. "St. Lucia has been severely affected by the global economic and financial crisis," IMF Deputy Managing Director and Acting Chair Murilo Portugal said in a

. "Sharp declines in tourism, foreign direct investment, and remittances from abroad have led to significant pressure on St. Lucia's fiscal and balance of payments positions."

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.