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Jamaica awaits IMF approval

Jamaica Prime Minister Portia Simpson Miller.

Jamaica Prime Minister Portia Simpson Miller.

KINGSTON — The country has now completed all prior actions required to successfully ink an agreement with the International Monetary Fund, according to information coming out of yesterday’s Cabinet retreat.

The Portia Simpson Miller Cabinet, which had met at Jamaica House on the first day of a two-day retreat, said the country now awaits a report from the fund regarding its discussions with other multilateral financial institutions.

This is the fifth time since forming the Government in January 2012 that the Cabinet of the present administration has gone into a retreat.

In a release from the Office of the Prime Minister yesterday, it was disclosed that Cabinet also agreed on the 2013-2014 Budget “in keeping with the IMF programme and the specific priority focus on economic reform, economic growth and social protection”.

However, yesterday Information Minister Sandrea Falconer reported that the country would have to wait a while longer to hear more details.

“We are preparing for budget, so we would not go into specifics now. It would be more when Minister (Peter) Phillips (minister of finance and planning) presents the Budget,” she said.

Discussions around the growth agenda, including major projects and their funding, as well as their potential for job creation, are expected to take centre stage when the cabinet meets again today. (Gleaner)

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