IMF Support Prompts More Donor Backing for Jamaica

Jamaica’s standby agreement with the International Monetary Fund has helped the Caribbean nation secure more funding from other multilateral institutions, Caribbean Net News reports.

“The European Commission, the World Bank, the Caribbean Development Bank … all of them combined, the windows were closed for us, but once the IMF agreement was opened, the flows have begun,” Minister of Finance and Public Service Audley Shaw said.

The World Bank and Inter-American Development Bank have offered a total of USD415 million, while the European Union has committed 17 million euros (USD23 million) for Jamaica.