JIS News

Cabinet has received reports on Jamaica’s participation in the Annual Meeting of the Inter-American Development Bank (IDB), and the 24th Meeting of the Board of the Inter-American Investment Corporation (IIC), from the Ministry of Finance and the Public Service.
This announcement was made by Minister with responsibility for Information and Telecommunications, Hon. Daryl Vaz, during the Post Cabinet weekly media briefing at Jamaica House on Wednesday (May 20).
The Caribbean constituency at the meetings noted the very challenging global economic crisis being faced, and called on the IDB and other international development partners, to put in place economic stimulus packages for small, heavily indebted and vulnerable economies, he said.
The Bank’s disbursement to Jamaica in 2008 was US$144 million, a 300 per cent increase over the US$34 million in 2007. This resulted in positive net flows of US$40 million in 2008, compared with a negative outflow of US$85 million in 2007.