JIS News

The administration has authorised the International Monetary Fund (IMF) to publish all the documentation related to the just approved US$958 million four-year Extended Fund Facility (EFF).

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, who made the disclosure in Gordon House on Wednesday, May 1, as he closed the 2013/14 Budget Debate, said that this is in order to prevent the circulation of “misinformation” about the arrangement.

The Minister also tabled a Ministry Paper entitled: ‘Request for an Extended Fund Facility: Letter of Intent, Memorandum of Economic and Financial Policies; and Technical Memorandum of Understanding.’

“The laying of this paper marks the culmination of an extremely challenging process and I want to take this opportunity to recognize the contribution of the staff in the departments and agencies which underpins the work of the Ministry,” he said.

The Finance Minister recognised the contribution of the Governor of the Bank of Jamaica, Brian Wynter; the Financial Secretary, Devon Rowe; and the Director General of the Planning Institute of Jamaica (PIOJ), Colin Bullock, along with the members of his advisory group, the Hon. Shirley Tyndall, and Dennis Morrison “for their role in bringing the IMF negotiations to successful conclusion.”

“I would also like to thank the Prime Minister and the members of the Cabinet – who …stood together with me through the toughest decisions – this truly was “team work in action,” he stated.

By Alecia Smith-Edwards, JIS Reporter