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Kingston, Jamaica (McN) – Jamaica has met the benchmark targets under the International Monetary Fund (IMF) Standby Agreement; and is expected to receive US$170 million at the end of April.
Mr. Audley Shaw, Finance Minister who announced this on Friday morning after the first IMF review under the Standby Agreement, stated:
“The IMF executive board is scheduled to consider the review under the precautionary standby arrangement since April of 2017. The board approval, once granted, will allow the release of SDR$127 million (approximately US$170 million), which when added to the amount approved in November of last year, will make available approximately US$574 million available to Jamaica, in the event that it is needed,” Mr. Shaw announced.