IMF to visit Antigua

Prime Minister of Antigua and Barbuda, Baldwin Spencer has ended months of speculation with an announcement that representatives of the International Monetary Fund (IMF) are to begin negotiating an assistance package for the twin-island nation next month.



The prime minister told Parliament that under the fund-assisted programme the IMF would not prescribe structural adjustment conditions but rather agree with the government on the various targets established.



Spencer said his United Progressive Party (UPP) government made the decision to present its fiscal consolidation programme to the IMF after assessing the challenges presented by the global economic crisis and Antigua and Barbuda’s debt overhang.



He said the government hopes to secure financial assistance in implementing the policies and measures identified in the programme.