Sunday, April 21, 2024

US monitoring IMF loan to Barbados


Share post:

The Donald Trump administration has an eagle eye on Barbados’ US$290 million loan from the International Monetary Fund (IMF) – financing it could have obstructed.

In a report sent to the United States Congress three weeks ago, the Department of the Treasury said while Barbados “remains heavily indebted and vulnerable”, it believed the IMF loan “is likely to be repaid in full”.

Under provisions related to “use of US funds for foreign governments”, the US government could have objected to Barbados getting this funding from the international financial institution, which is based in Washington DC.

Long-standing practice requires that before any loan is approved by the IMF’s Executive Board, the Office of the US Executive Director (OUSED) at the IMF, working in close coordination with the Treasury Department, have to approve. (SC)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.


Previous article
Next article


Please enter your comment!
Please enter your name here

Related articles

Body found at Carmichael, St. George

Emergency officials are attempting to recover what appears to be a body at Carmichael, St George. Police public affairs...

Blackett endorses Yearwood, no-confidence in Thorne

Pandemonium broke out at a quarterly review meeting of the Democratic Labour Party (DLP) this evening after general...

Netanyahu to reject any sanctions on army units

Israel's Benjamin Netanyahu has vowed to reject any sanctions on the country's military, after reports that the US...

Search on for missing woman

About 400 people took part in the search for Sonia Parris.An employee of Chefette Wildey, Parris, 58, of...