The International Monetary Fund’s (IMF) executive board has approved a new loan tranche for Jamaica, Bloomberg reports. The island nation has received a $49.3 million loan under its Stand-By Arrangement with IMF.
The latest loan tranche brings the total amount released under the IMF’s agreement with Jamaica to around $838 million. The IMF’s board had approved a 27-month loan agreement in February for $1.27 billion.
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