Still no signs of an IMF deal by month end

It is becoming increasingly apparent that Jamaica is not likely to get a deal with the International Monetary Fund (IMF) this month, as hoped.

Earlier this week, Finance Minister Dr Peter Phillips said he still hoped that the IMF's Executive Board could receive the Letter of Intent in time for approval to be given to Jamaica's programme next week.

However, a source says Jamaica's programme is "unlikely" to be reviewed by the IMF's Executive Board before the end of March. So far that has been supported by an updated version of the IMF's Executive Board calendar for meetings on Monday and Friday, but a date for Jamaica was not scheduled.

The only country scheduled to have a review from the IMF next week is the Philippines. RJR News understands however that although Jamaica is yet to appear on the schedule of the IMF's Executive Board, this does not mean it could not happen next week.

It is understood that the Letter of Intent has not yet been signed by Brian Wynter, the Governor of the Bank of Jamaica (BOJ) and Phillips, because the document is yet to be finalised.

 


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