Mon | Nov 30, 2015

Phillips insists IMF deal likely before year-end

Published:Tuesday | November 20, 2012 | 7:40 PM

Finance Minister, Dr. Peter Phillips is insisting that Jamaica could have a deal in place with the International Monetary Fund (IMF)by year end.

The Government is currently seeking a deal with the IMF to allow it to gain access to multi-lateral funds for balance of payment support.

Doubts have been raised about whether inking a deal by that time is possible.

Responding to questions from the parliamentary opposition this afternoon Finance Minister, Dr. Peter Phillips continued to insist that the discussions are going according to schedule.

But Phillips would only commit to concluding the letter of intent by year end, indicating that IMF board approval might not take place until next year.

And Dr. Phillips insisted he could not comment on the conditions which are to be met for the inking of the deal, arguing that these were yet to be settled.

Opposition spokesman on finance, Audley Shaw, argued that Dr. Phillips should concede that the year-end timeline for inking a deal was not practical given that the prior actions are yet to be settled.

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