Jamaica must sign IMF agreement—Simpson-Miller

KINGSTON—Prime Minister Portia Simpson-Miller says it is “necessary” for Jamaica to secure an agreement with the International Monetary Fund (IMF) as her Cabinet ended the first day of a three-day meeting here. A brief statement issued at the end of the first day on Thursday said that Prime Minister Simpson-Miller said the agreement with the IMF would “underpin the economic reform while securing the protection of the poor and the most vulnerable in the society.”

The main opposition Jamaica Labour Party has already called on the government to make public the details and timetable for the implementation of Prior Action Requirements of the IMF before an agreement can be reached.

JLP’s spokesman on Finance Audley Shaw said following the recent admission of Finance Minister Dr Peter Phillip that an agreement with the IMF cannot be reached until these prior action benchmarks are achieved; it is now a matter of urgent national importance that the minister publishes this information.

Phillips has blamed the JLP which, when in government, had started talks with the Washington-based financial institution for a new stand by agreement (SBA). Phillips said the collapse of previous talks had resulted in the IMF insisting that, as much as possible, measures that were necessary for the conclusion of the deal must be implemented upfront.

Caribbean360