In its latest Article IV consultation released yesterday, the IMF commended the Freundel Stuart administration’s “commitment to adjustment and reforms” but again expressed concern that much more had to be done to address the island’s “high and growing public debt”.
In the IMF’s executive board assessment, the directors “underscored the importance of completing the reform of the revenue authority to improve tax administration and increase compliance”.
Even as the IMF said the economy appeared to have turned the corner with “activity picking up”, the Washington-based institution wanted stronger efforts “to reform state-owned enterprises through better governance, consideration of user fees, and potential divestment and consolidation of public entities”. They also called for swift action to eliminate Government arrears. (GE)
Please read the full story in today’s Daily Nation, or in the eNATION edition.
