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IMF delegation to arrive in Jamaica today

Published:Wednesday | August 12, 2015 | 9:48 AM

A delegation from the International Monetary Fund (IMF) is due in Jamaica today to assess the country's performance under the multi-million-dollar four-year loan agreement.

The IMF will be carrying out the ninth assessment of the local economy for the April to June 2015 period.

The delegation is expected to determine whether Jamaica met all quantitative targets and structural benchmarks for the review period.

The review follows the announcement that Jamaica’s net international reserves stood at US$2.4 billion at the end of July. 

It also comes after Jamaica raised US$2 billion in loans on the capital markets which analysts say should give the government the support to ask for a renegotiation of some of the measures under the IMF programme.

Jamaica received US$40 million after passing the last IMF test.

Jamaica signed the IMF deal in 2013.