IMF Frees Money for Jamaica

A view of Kingston, Jamaica. The country may access some USD93.9 million from the International Monetary Fund. Photo by: lando2007 / CC BY-NC-SA 2.0 lando2007CC BY-NC-SA 2.0

Jamaica may access some USD93.9 million under a standby arrangement with the International Monetary Fund. The disbursement of the money has been approved by the fund’s board of directors following the completion of the first-quarter assessment of Jamaica’s performance under the arrangement.

“Jamaica has performed very well under the programme,” IMF said in a statement. “All quantitative performance targets and structural benchmarks for end-March were met and prospects for meeting the end-June targets and benchmarks appear favourable.” 

Some USD704.6 million has so far been released under the standby arrangement, The Gleaner reports.

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.