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IMF gives CARICOM countries interest waiver extension

Published:Friday | December 26, 2014 | 9:28 AM

Caribbean Community (CARICOM) countries are to benefit from a new initiative outlined by the International Monetary Fund (IMF).



The Washington-based financial institution says it has approved an extension of interest waiver for low income countries until the end of 2016.



The IMF had initially endorsed temporary relief of interest payments on all outstanding concessional loans for Poverty Reduction and Growth Trust (PRGT) eligible members in 2009, waiving all interest payments on PRGT loans through December 2011.



An IMF statement noted that two subsequent extensions of the exceptional interest rate waiver were approved by the IMF Board, first to end-December 2012 and then to end-2014.



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