Mon | Aug 21, 2017

Gov't may not need to tap IMF for rain damage coverage – analyst

Published:Thursday | June 1, 2017 | 6:09 PM

At least analyst is saying the government may not need to tap the International Monetary Fund (IMF) for funds to repair damage from the recent heavy rains.

Finance minister, Audley Shaw has reportedly said the Government is contemplating going to the IMF for funds following the rains.

However, Financial analyst Dr Adrian Stokes says based on the preliminary estimates the government may still be able to make adjustments in the budget to pay for the damage.

 

Financial Analyst, Dr Adrian Stokes

Preliminary estimates of the damage from the recent rains have been put at nearly $4 billion.

Prime Minister Andrew Holness had said the government would be looking at the budget to see what adjustments can be made to fund the repairs.