IMF says Antigua and Barbuda successfully completes Stand By Agreement

WASHINGTON, CMC – The International Monetary Fund (IMF) Wednesday said Antigua and Barbuda had successfully completed a multi-million dollar Stand By Agreement (SBA) despite “considerable challenges”. The IMF said the Baldwin Spencer government will receive an immediate disbursement of US$25.4 million following the last review of the SBA which will expire on June 6. The 36-month SBA was approved on June 7, 2010 for an original amount of US$121.9 million and the Washington –based financial institution said that the aims of the programme were “largely achieved despite considerable challenges”.