Finance Minister Audley Shaw has expressed confidence that the Government and the International Monetary Fund (IMF) will reach an agreement on a successor arrangement for the Extended Fund Facility.
He says based on the administration’s discussions now underway with members of the IMF’s Country Team who are in the island a Precautionary Standby Agreement will emerge.
In an address at Prime Asset Management’s ninth Annual Pensions Seminar Shaw said the new arrangement being explored would see the administration maintaining its targets of fiscal prudence and consolidation.
It's likely that there will be half-yearly instead of quarterly reviews.
The Finance Minister says discussions are going well and the plan is to have a seamless transfer from the Extended Fund Facility.
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