IMF’s Board Approves $49.3 Million Disbursement For Jamaica

The International Monetary Fund’s executive board said it concluded its third review of a loan to Jamaica and approved the release of $49.3 million.

The loan brings the amount released under the fund’s standby agreement with Jamaica to about $838 million, the IMF said today in an e-mailed statement. The fund’s board approved a 27-month loan agreement in February for $1.27 billion to help the island nation cope with the global economic downturn.

 

I always hear of Jamaica borrowing from the IMF but never hear of any repayment of loans. Who will pay for this? And when? The people of course. Surely not the government. And what exactly do they do with all the money they borrow?

 

i always wonder abt that too!!!! Where does all that money go wen the government recieves it?