Friday, April 19, 2024

Gov’t stays with the IMF

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With Barbados due to officially end its programme with the International Monetary Fund (IMF) at the end of this month, the Mia Amor Mottley-led administration has taken the decision to seek another arrangement with the Washington-based facility.

Details on this latest development, which puts to rest weeks of speculation, were disclosed by Prime Minister Mia Amor Mottley during a press conference hosted at the official residence Ilaro Court yesterday.

The Prime Minister said that Barbados would be seeking a three-year Extended Fund Facility (EFF), with an aim to borrow US$340 million.

She explained that under the EFF, Barbados is expected to unlock US$130 million in funding as well as US$210 million under the IMF’s Resilience and Sustainability Trust.

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