JIS News

The International Monetary Fund (IMF) is likely to consider Jamaica’s application in November, due to the delay of the technical team going to Washington and the IMF’s participation in the annual World Bank Meeting in Europe.
Minister of Finance and the Public Service, Audley Shaw told journalists attending the Post Cabinet press briefing at Jamaica House today (Sept. 23), that the delay in the technical team’s visit to Washington in the USA is due to Government’s efforts to fine tune the medium-term programme in line with its plans, targets and projections.
“We are the ones that said to them (IMF) we couldn’t come last week and we’re going to come this week because Cabinet is going to sign off on what we are coming with to you” Mr. Shaw explained.
The Minister noted that the delay will involve a return trip from the IMF, but that this cannot happen next week or the following week because most of the IMF’s principal people will be going to the annual IMF World Bank meeting in Istanbul, Turkey, which Mr. Shaw will also attend.
He said that he will use the opportunity to have discussions at the appropriate level, after which members of the IMF team will come to Jamaica in the middle of October to complete discussions and put together the letter of intent that will go back to Washington for consideration by the IMF board.
Mr. Shaw explained that Prime Minister the Hon. Bruce Golding has been going out of his way to promulgate the IMF discussions so as to ensure its success. He said that the Government of Jamaica is pleased with the relationship that has been re-established with the multi-lateral institutions in Washington.

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