IMF deal takes centre stage at PTF talks

Jamaica’s efforts to strike a deal with the International Monetary Fund (IMF), is to take centre stage as the Partnership for Transformation (PTF) talks resume today.

The meeting is slated for 2 p.m. at Jamaica House.

It has been more than a year since the parties to the talks last met.

Stakeholders, who include the opposition, civil society, private sector groups and trade unions, said they want to know the approach being taken by the Government to secure a new agreement with the international lending agency.

An IMF mission left the island last Friday following a two week visit.

Finance minister, Dr. Peter Phillips told a press conference last week Friday that the government had made significant progress in the negotiations with the IMF.

Dr. Phillips added that the government and the IMF have started to discuss a draft outline of a letter of intent and a memorandum of economic and financial policies which will be the embodiment of the program.

The government has indicated that it will be pursuing a three-year medium-term agreement instead of another standby loan facility.

A medium term programme would allow for a longer repayment time.

The government is seeking to have an agreement with the IMF before year end.

editorial@gleanerjm.com