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Gov’t stays with the IMF


Gov’t stays with the IMF
Prime Minister Mia Amor Mottley, flanked by Minister in the Ministry of Finance, Ryan Straughn (left) and Director of Finance and Economic Affairs, Ian Carrington - Picture by Lennox Devonish

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With Barbados due to officially end its programme with the International Monetary Fund (IMF) at the end of this month, the Mia Amor Mottley-led administration has taken the decision to seek another arrangement with the Washington-based facility.

Details on this latest development, which puts to rest weeks of speculation, were disclosed by Prime Minister Mia Amor Mottley during a press conference hosted at the official residence Ilaro Court yesterday.

The Prime Minister said that Barbados would be seeking a three-year Extended Fund Facility (EFF), with an aim to borrow US$340 million.

She explained that under the EFF, Barbados is expected to unlock US$130 million in funding as well as US$210 million under the IMF’s Resilience and Sustainability Trust.

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