Apr 2013 Financial News

IMF to review Antigua's economic performance

Apr 29, 2013

ST JOHN’S, Antigua (CMC) – A delegation from the International Monetary Fund (IMF) arrives in Antigua on Monday to review the operations of the multi-million dollar Stand-by Agreement (SBA) the financial institution has with Antigua and Barbuda.

A government statement said that the review, which will end on May 3, is the final under the 36-month SBA. The IMF team will meet with private and public sector officials during the weeklong visit.

In 2010, Antigua and Barbuda was approved for the 36-month SBA of US$118 million, but that figure was downgraded to US$107 million.

In April, the IMF completed the eighth and ninth reviews of the island’s economic performance paving the way for the disbursement of about US$10.1 million and the government said approximately US$25 million is still outstanding.


Source:
Jamaica Observer
Monday April 29, 2013

http://www.jamaicaobserver.com/business/IMF-to-review-Antigua-s-economic-performance#ixzz2RsQztOXf