Finance Minister says it’s business as usual for Jamaica despite new IMF agreement
Finance Minister Dr. Nigel Clarke has stressed that despite Jamaica’s new agreement with the International Monetary Fund (IMF), it will be business as usual.
On Thursday, the IMF announced that it reached a staff level agreement with Jamaica, that will enable government access to approximately US $1.7 billion, under two multi-lateral instruments.
The request is expected to be considered by the IMF’s executive board in early 2023.
Speaking during a twitter space conversation last evening (December 16), Dr. Clarke explained that the provision is being made at the government’s request and forms part of the policy response to prevailing global shocks.
He said this does not affect citizens.
Dr. Clarke noted that Jamaica already has several contingency funds in place.
He said the agreement is to further bolster Jamaica’s resilience.