PM speaks on IMF negotiations

Prime Minister Bruce Golding has provided some insight into Jamaica’s negotiations with the International Monetary Fund, IMF.



The Government has been holding talks with the IMF as it prepares its application for US$1.2 billion in balance of payment support through a standby arrangement.



The Finance Minister Audley Shaw has said that Jamaica’s application should be ready for submission by November.



Speaking at a town hall meeting at the University of the West Indies, Mona last night, Mr. Golding pointed to some of Jamaica’s challenges that the IMF wants addressed.



The prime minister also disclosed some of the measures the government will be implementing to deal with the country’s fiscal problems as it moves to respond to the requirements of the IMF. Among the measures are tax reform, reform of public sector bureaucracy and the introduction of a fiscal responsibility act.