The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn. A disbursement of SDR 414.3 million (about US$ 640 million) will become available to Jamaica immediately. The key objectives of the arrangement are to support the Jamaican authorities’ ample reform program to address deep-seated structural weaknesses in the country’s economy, increase its growth potential, and make it less vulnerable to external shocks.
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