IMF approves additional funding for Jamaica

The International Monetary Fund (IMF) has approved almost $7 billion in additional funding to the Jamaican budget for this fiscal year. The finance minister Audley Shaw told the weekly post cabinet press briefing today that the additional money is to deal with the repair of infrastructure damaged by flood rains associated with tropical storm Nicole.

BOGOTÁ, Colombia, CMC – The International Monetary Fund (IMF) says that the Caribbean is finally turning the corner amid “vast challenges”. In its new Regional Economic Outlook, released here, the Washington-based financial institution said the Caribbean is gradually recovering from last year’s severe recession.