Antigua seeking US$56 million from IMF
Published:Thursday | September 17, 2009 | 8:53 AM
The Antiguan Government has indicated that it will be seeking to borrow
US$56 million in financial assistance from the International Monetary
Fund (IMF).
Prime Minister Baldwin Spencer told the Antiguan parliament that
negotiations with an IMF team would begin in a matter of weeks.
Finance Minister Harold Lovell says the government is seeking help to reduce its huge debt burden of well over a billion dollars.
Mr. Lovell says the aim is to bring the government\'s expenditure into alignment with its revenue.