imf
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COVID-19IMF Executive Board Approves US$65.6 Million in Disbursements to Dominica, Grenada, and St. Lucia to Address COVID-19 Pandemic
The IMF Executive Board approves three requests from Dominica, Grenada, and St. Lucia for emergency financial assistance to help address the challenges posed by COVID-19. The approval of the Board will make available a combined SDR 48 million (US$65.6 million) in emergency financing to help these three countries deal with the challenges posed by COVID-19. IMF financing support provides resources…
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Close collaboration enhancing Region’s development prospects – PM Rowley
Trinidad and Tobago’s Prime Minister Dr. Keith Rowley at the 2016 IMF Caribbean Forum, in Port of Spain, 2-3 November 2016: There are both differences and similarities among us as a group. Three of the regional economies (Trinidad and Tobago, Guyana and Suriname) are commodity exporters while the others are largely dependent on tourism and remittances. However, we are all…
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Economic recovery gaining ground in OECS – IMF
WASHINGTON, CMC – The International Monetary Fund (IMF) says economic recovery in the Eastern Caribbean Currency Union (ECCU) is gaining ground, supported by continued low oil prices, strong tourism arrivals, and robust citizenship-by-investment receipts. The IMF said that three failed banks have been resolved with no spillovers to the rest of the region and fiscal management has improved. The ECCU…
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IMF approves funds for storm-hit Dominica
The Executive Board of the International Monetary Fund (IMF) on October 28, 2015 approved a disbursement of an amount of about US$8.7-million for Dominica as the island rebuilds following the ravages of Tropical Storm Erika. Deputy Managing Director and Acting Chair of the IMF, Mitsuhiro Furusawa, said an assessment report by the World Bank and the Government of Dominica estimates…
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IMF and St. Kitts and Nevis put on Caribbean Forum focusing on “Financing Growth”
Financial stakeholders from the Caribbean region and further afield are presently attending the fourth edition of the Caribbean Forum at the St. Kitts Marriott Resort which was organized by the International Monetary Fund (IMF) in collaboration with the Government of St. Kitts and Nevis under the theme “Financing Growth”. The two – day meeting, which is being held from September 03-04,…
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IMF approves almost $70 million for Haiti as earthquake recovery continues
WASHINGTON, United States, Thursday May 21, 2015 – The Executive Board of the International Monetary Fund (IMF) has approved a US$69.7 million three-year aid programme for Haiti to help its continued recovery from a devastating earthquake that claimed a quarter million lives five years ago. About US$10 million has already been disbursed under the Extended Credit Facility (ECF) while the remainder…
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World Bank says growth in remittances to Caribbean will slow down in 2015
WASHINGTON D.C., United States, Friday April 17, 2015, CMC – The World Bank says remittances growth in the Caribbean is expected to slow in 2015. The Washington-based international financial institution said in its latest issue of its Migration and Development Brief that growth in global remittances, including those to developing countries, such as the Caribbean, will slow sharply this year due…
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Phillips hails CARICOM confab with G-20
Washington DC, April 14, 2015 – Minister of Finance and Planning, Dr. Peter Phillips, has welcomed the opportunity to co-chair yesterday’s first Caribbean Regional Dialogue with members of the G-20 Development Working Group, at the World Bank and International Monetary Fund (IMF) spring meeting in Washington DC. In his opening remarks, Dr Phillips said he was of the impression that…
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IMF extends interest waiver for low income countries
WASHINGTON, DC, USA — Caribbean Community (CARICOM) countries are to benefit from an extension of interest waiver for low-income countries from the Washington based International Monetary Fund until the end of 2016. The IMF had initially endorsed temporary relief of interest payments on all outstanding concessional loans for Poverty Reduction and Growth Trust (PRGT) eligible members in 2009, waiving all…
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IMF monitoring impact of PetroCaribe on regional economies
By Kenton Chance KINGSTOWN, St. Vincent, Nov 19, CMC — The International Monetary Fund (IMF) says it is monitoring the potential impact any changes to PetroCaribe, Venezuela’s oil alliance with several Caribbean islands will have on regional economies. Analysts say the initiative, which allows countries to pay for part of their oil import from Caracas over a 20-year period…
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