ANTIGUA-ECONOMY-IMF approves funds for Antigua and Barbuda
Apr 12, 2013
WASHINGTON, CMC – The International Monetary Fund (IMF) says it is making available more than US$10 million to Antigua and Barbuda after completing review of the island’s economic performance under a three-year Stand By Arrangement (SBA) indicating also that the economy is showing signs of gradual recovery after three years of being stagnant.
The IMF said it had also approved a waiver of non-observance of the continuous performance criterion on external arrears.
“This waiver was granted on the basis of the temporary and minor nature of the deviations from the programme objectives and the corrective measures undertaken by the authorities,” the IMF said in a statement.
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