IMF Update: Executive Board Completes Second Review

Photo Courtesy: Winnfm & JamaicaStores
Photo Courtesy: Winnfm & JamaicaStores

diGgers

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.

diG Deeper

diGJamaica’s IMF Special Report

IMF Press Release: IMF Completes Second Review under the Extended Fund Facility Arrangement with Jamaica and Approves US$30.8 Million Disbursement

IMF Statement on Second Review: Statement at the Conclusion of the IMF Staff Mission to Jamaica

IMF Staff Report on First Review: Flip Magazine Format

IMF Agreement: The Memorandum of Economic Financial Policies

Gleaner Latest News: IMF Second Quarter Review Completed, US$30.8m Disbursement To Be Made