IMF Managing Director Christine Lagarde Set for Jamaica Visit

According to a statement issued by Jamica’s Ministry of Finance, the Managing Director of the International Monetary Fund (IMF) Christine Lagarde will visit the island  on June 27.

Mrs. Lagarde and her delegation will have several meetings with Prime Minister Portia Simpson-Miller, Finance Minister Dr. Peter Philips and other senior government officials.

Although the visit will be billed as a short stint spanning just a few hours, Mrs. Lagarde is expected to participate in a number of outreach activities before departing the shores on June 28.

“The visit by the Managing Director of the IMF underscores the Fund’s support for Jamaica’s Economic Reform Programme, and signals its commitment to assisting the wider Caribbean,” according to the statement from the Finance Ministry.

An IMF review conducted at the end of last month concluded that the country’s overall economic performance improved under the current programme.

The final analysis stated that economic outlook is improving, crisis risks have receded, growth has picked up, net exports are stronger, inflation has been brought under control and reserves are beginning to recover.

Jamaica entered into a four year US$948.1 million Extended Fund Facility (EFF) agreement with the IMF in May 2013. The negotiations had finally been completed after a process which began in 2007 following the initial global economic downturn. It is expected that the nation will be in the position to repay it’s debt after four year contract has expired.

 

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