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Jamaica anticipates $71M from IMF as part of deal

August 23, 2014

KINGSTON, Jamaica (AP) — Jamaica says it expects to receive $71 million from the International Monetary Fund as the government continues to meet key economic objectives outlined in a four-year deal.

Finance Minister Peter Phillips says the IMF on Friday finished a successful fifth review of the country’s economic performance. He says officials will continue to reduce debt and reform the tax and labor market sectors, among other things.

Jamaica’s government said in a statement that it has so for secured $414 million in funding in the first year of a $930 million loan package with the Washington-based institution.

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