Tue | Jun 6, 2023

Phillips to discuss IMF talks

Published:Tuesday | January 24, 2012 | 8:49 AM

Jerome Reynolds. Gleaner Writer

The finance minister Dr. Peter Phillips is today expected to reveal the outcome of talks between the Government and the International Monetary Fund (IMF).

The Finance Minister and technocrats have been holding talks with IMF officials aimed at a loan agreement back on track.

The finance ministry and the IMF are to hold a joint press briefing this morning to discuss the way forward.

The IMF has not conducted a performance review of the economy for more than a year, as Jamaica is yet to meet certain targets under the stand-by loan arrangement.

The new Government said it prefers a more flexible agreement that would give the government more fiscal space.

It is believed that the Administration would be seeking an extended fund facility instead of a new standby agreement with the IMF.