Tweet
IMF sheds light on delay
There are indications from the International Monetary Fund (IMF) that the government will have to finalize plans to deal with Air Jamaica by tomorrow, or risk further delays in its proposal for an agreement with the multilateral agency.
Yesterday the IMF told The Gleaner that while its executive board is scheduled to consider Jamaica’s request next week, it expects that by tomorrow the Government will provide it with key information.
IMF Spokesman, Andreas Adriano said the debt exchange should yield the intended interest savings and extension of maturities and a plan for Air Jamaica must be outlined.
Mr Adriano further explained that the decision to delay the executive board’s discussion of Jamaica’s request was made last week, after it was realised that it would not be possible to get the results of the debt exchange in time for a January 27 meeting of the board.
However he noted that the executive board will only consider the request from Jamaica provided the prior actions agreed by the Jamaican government are completed.
There are indications from the International Monetary Fund (IMF) that the government will have to finalize plans to deal with Air Jamaica by tomorrow, or risk further delays in its proposal for an agreement with the multilateral agency.
Yesterday the IMF told The Gleaner that while its executive board is scheduled to consider Jamaica’s request next week, it expects that by tomorrow the Government will provide it with key information.
IMF Spokesman, Andreas Adriano said the debt exchange should yield the intended interest savings and extension of maturities and a plan for Air Jamaica must be outlined.
Mr Adriano further explained that the decision to delay the executive board’s discussion of Jamaica’s request was made last week, after it was realised that it would not be possible to get the results of the debt exchange in time for a January 27 meeting of the board.
However he noted that the executive board will only consider the request from Jamaica provided the prior actions agreed by the Jamaican government are completed.