Word just in that the executive board of the IMF has completed the second review of Jamaica’s economic performance under the the four-year arrangement. This now unlocks the third tranche of the loan SDR 19.97 million or US$30.8 million at today’s exchange rates.
The first review of Jamaica’s performance under the economic program was given the official stamp of approval by the IMF’s Executive Board members on September 30, 2013. The first review unlocked the second tranche of the loan, approximately US$30.6 Million.
Including this draw down total disbursements to date under the four-year arrangement will now stand at approximately SDR 176.69 or US$272.2 million.
Jamaica has 13 reviews remaining to undertake to successful complete the programme.