Antigua and Barbuda undergoes IMF stand by agreement reviews

ST. JOHN’S, Antigua – A team from the International Monetary Fund is in Antigua to undertake the first review of the country’s performance under its Stand-By Arrangement with the Fund.

On June 7 the Executive Board of the IMF approved a loan of USD117.8m to assist with Antigua and Barbuda’s Fiscal Consolidation Programme.

The loan will be disbursed in quarterly installments over three years, provided a number of mutually agreed fiscal targets are met.

The five-member IMF team is headed by Dr Wendell Samuel, who is also the Funds Resident Representative in the Eastern Caribbean.

The mission is scheduled for completion on September 9

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