DR. Phillips to Lead Delegation to Washington DC Next Week

Minister of Finance, Planning and the Public Service,Hon. Dr. Peter Phillips, is scheduled to lead a delegation to Washington DC next week for discussions with the International Monetary Fund (IMF) and other multilaterals.

The Minister made the disclosure during February 8 Jamaica House press briefing.

He said that while in Washington, he will also meet with capital market players and the rating agencies.

He informed that Cabinet has agreed on the broad parameters for the discussions with the IMF and high on the agenda is the development of a medium-term programme for the country.

“On this visit, we hope to, inter alia, examine the broad outline of the medium -term fiscal programme and the projections for financial year 2012/2013, which would represent the first year of a medium-term arrangement with the IMF,” he stated.

Dr. Phillips said in preparation for those discussions, a technical team from the Ministry of Finance, the Bank of Jamaica (BOJ), and the Planning Institute of Jamaica (PIOJ), are putting together the broad outlines of the economic programme.

The Finance Minister stated the government’s commitment to the implementation of programmes to achieve economic stability, create jobs, facilitate business, attract investment, and ultimately lay the foundation for sustained economic growth.

These imperatives, he said, are consistent with the government’s desire to negotiate a new agreement with the IMF, as agreed on by Cabinet.

By Allan Brooks, JIS Senior Reporter