St Lucia signs up for IMF new deal
Published:Thursday | August 27, 2009 | 1:07 PM
The St Lucia parliament has indicated that the government has signed up with the International Monetary Fund, IMF, for a new type of loan agreement.
The St Lucian government is seeking to access about US$10,500,000 under a special IMF programme called the Exogenous Shock Fund.
The IMF describes the programme as a rapid response facility to assist low income countries cope with the effects of external shocks on their economies.
The opposition in St Lucia says its concerned about certain conditions attached to the loan including the introduction of value-added tax.