Jamaica’s recovery story gained major momentum, as some of the world’s leading financial institutions joined forces in an unprecedented show of support. International partners including the IMF, World Bank Group, Inter-American Development Bank, Development Bank of Latin America and the Caribbean, and the Caribbean Development Bank have come together to craft a three-year financing package valued at US$6.7 billion. The funding is intended to help drive the country’s recovery and strengthen long-
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The Government of Jamaica will begin reconstruction efforts with approximately US$1.15 billion in immediately available funds, including US$500 million from the IMF’s Rapid Financing Instrument (RFI), which carries no policy conditionality. This funding allows the government to start addressing urgent infrastructure, residential, and public recovery needs. Preliminary assessments indicate total damage of around US$8.8 billion, with the government likely responsible for at least half, meaning add
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International Monetary Fund (IMF) Resident Representative, Dr. Constant Lonkeng Ngouana, says Jamaica has made tremendous progress over the last six years and is now ready to exit its current arrangement with the organisation. Click here to read the full story http://bit.ly/2YyNWfo | Jamaica Information Service
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