KINGSTON, Jamaica, Observer – The International Monetary Fund (IMF) will dispatch US$213 million to Jamaica immediately after its board approves the new bailout programme expected by month end, according to central bank Governor Brian Wynter.
Those funds, along with future distributions, will immediately shore up the country's depleted reserves.
The gross reserves fell to US$1.7 billion at the end of March, while the net reserves, the NIR, slumped to US$884 million, below the benchmark equivalent of 12 weeks of goods and services imports.
