St Kitts makes history in repayment to IMF
Published:Wednesday | July 2, 2014 | 9:56 AM
The International Monetary Fund (IMF) says St Kitts and Nevis has repaid US17.1 million to the Washington-based financial institution ahead of schedule.
The IMF says the payment is about one fourth of the US73.1 million that St Kitts and Nevis borrowed from the multilateral lending agency under its Stand-By Arrangement.
The payment was made on June 24.
The IMF notes that this is the first time that a payment of this magnitude has been repaid early to the Fund by a Caribbean nation.
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