IMF deal in weeks - Gov’t looks to growth as agreement expected by month end

KINGSTON, Jamaica- The Ministry of Finance and Planning has subdued its glee in reacting to the likelihood of an inked deal with the International Monetary Fund (IMF) by month end, which could result in a cumulative drawdown of around US$2 billion from the Fund, the Inter-American Development Bank (IDB), and the World Bank over the next four years. "We are looking very good. Technically, there is an agreement, but in reality, we don't have it as yet," stressed a senior official from the ministry. "The fact is a formal agreement is very likely to come." While Minister of Finance, Planning and the Public Service Dr Peter Phillips sat in a Cabinet meeting, word emerged from the IMF that after more than a year of deliberations, Jamaica was well on its way to securing a deal as the board would discuss the prior-actions requirements by the end of the month.