Friday, March 29, 2024

US monitoring IMF loan to Barbados

Date:

Share post:

The Donald Trump administration has an eagle eye on Barbados’ US$290 million loan from the International Monetary Fund (IMF) – financing it could have obstructed.

In a report sent to the United States Congress three weeks ago, the Department of the Treasury said while Barbados “remains heavily indebted and vulnerable”, it believed the IMF loan “is likely to be repaid in full”.

Under provisions related to “use of US funds for foreign governments”, the US government could have objected to Barbados getting this funding from the international financial institution, which is based in Washington DC.

Long-standing practice requires that before any loan is approved by the IMF’s Executive Board, the Office of the US Executive Director (OUSED) at the IMF, working in close coordination with the Treasury Department, have to approve. (SC)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

whatsapp-alerts-bloc

Previous article
Next article

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

No decision yet on Lester Vaughan School

A firm decision has not yet been made regarding when the Lester Vaughan School will be reopened. Following a...

BDF to conduct simulation exercise on April 2 & 3

The Barbados Defence Force (BDF) will conduct a Mass Casualty Simulation Exercise from Tuesday, April 2, to Wednesday,...

Barbadians reminded to file taxes online as filing season starts

The Barbados Revenue Authority (the BRA) is advising that tax filing season for 2023 begins on April 1 this...

Minister Abrahams’ statement on Ismail Patel’s passing

Below is the full statement by Minister of Home Affairs and Information, Wilfred Abrahams: I was saddened to...