KINGSTON, Jamaica (AP) — The Caribbean director of the World Bank says Jamaica will receive $510 million under a four-year lending programme.
At a Tuesday news conference in Kingston, Country Director for the Caribbean, Sophie Sirtaine, said that the programme is part of a reform project led by Jamaica.
Sirtaine praised positive economic signs, including hitting fiscal targets and a recent return to growth. But she also points to Jamaica’s weaknesses, such as its high vulnerability to shocks.
She says, “It’s not an easy walk, but I think that everybody is trying to do their best to make sure this works.”
Last year, Jamaica began a four-year loan package with International Monetary Fund to stabilize its economy. That deal was reached after Jamaica launched a debt-swap programme and halted what the prime minister described as a “serious economic crisis.”
