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IMF team postpones visit for 11th review

Published:Thursday | February 11, 2016 | 2:38 PMMcPherse Thompson

In light of the pending general election, the International Monetary Fund and the Jamaican Government have agreed to postpone the visit by the fund’s mission scheduled to conduct the 11th review of Jamaica’s performance under the economic support programme.

The mission will resume the review once the new government is in place, the IMF’s Resident Representative in Jamaica, Dr Bert van Selm said in a statement. The IMF staff assesses the performance under the extended fund facility to be on track, he added.

The staff mission was expected to conduct the review of the December quarter by the end of February and submit it to the IMF executive board on March 15.

In another statement also issued yesterday on the selection process for the next IMF managing director, Dean of the executive board Aleksei Mozhin said the period for submitting nominations closed on Wednesday with one candidate, current managing director Christine Lagarde, being nominated.

“The board will now work in line with the process described in the decision of January 20, including meetings between the candidate, Mme Lagarde, and Executive Directors,” he said.

Largarde, a French lawyer and the first woman to head the IMF, has been managing director since July 5, 2011. Her term expires on July 5 of this year.

mcpherse.thompson@gleanerjm.com