THE GOVERNMENT has started talks with key stakeholders in an effort to get buy-in to its medium-term economic programme and a planned debt-management scheme. The debt-management scheme will be a key component of any deal which the Government strikes with the International Monetary Fund (IMF) and will involve domestic debt holders taking a cut in their interest rates.
Jamaica Observer: “No debt exchange, no IMF agreement – Gov’t”
GOVERNMENT says that the proposed US$1.3 billion standby loan facility with the International Monetary Fund (IMF) is dependent on total backing from the financial sector for its $736-billion domestic debt exchange programme, which is projected to save Jamaica $40 billion during the next fiscal year.