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IMF releases $70m to Jamaica as fiscal reforms bear fruit

Zone(s): Jamaica ¦ Sector(s): IMF Funding

[24 June 2014, Public Finance International] By Judith Ugwumadu: The International Monetary Fund has agreed to disburse a further $70.9m to Jamaica after finding the island was making speedy progress in implementing agreed fiscal reforms.

Jamaica has so far received $414.4m through the extended arrangement under the IMF’s Extended Fund Facility agreed at the start of May last year. The programme is designed to tackle the challenges of low growth and high debt and has helped Jamaica to tighten its fiscal policy implement structural reforms, including wide-ranging tax reforms.