Grund
"In a press statement released on Monday night, an IMF
spokesman said that a Fund mission is currently in Kingston
and discussions on a Stand-By Arrangement are “continuing
to make progress.” This is the first public statement made
by the IMF since Jamaica approached the Fund in early
May and comes on the heels of Central Bank Governor
Latibeaudiere’s—the lead negotiator on a possible
US$1.2 billion IMF Stand-By Arrangement—resignation
last Friday. While IMF spokesman Andreas Adriano did not
provide any details regarding the program, he noted that
authorities are “examining a range of policy options” that
could be supported under an IMF program. The Fund
mission will provide an update on the discussions by the end
of the week. We welcome the IMF statement, especially in
light of the recent developments (the CB governor’s
resignation and Monday’s S&P downgrade of Jamaica to
CCC) as it reduces uncertainty about the status of the IMF
talks. We remain hopeful that an IMF agreement will be
in place this month and stay marketweight Jamaica in
our EMBIG model portfolio."
"Jamaica`s severe fisval situtation as well as the vulnerabilities in the government´s debt profle may give it icentives to negociate with its creditors particularly its resident creditiors that hold the larger bulk of jamaican debt" S&P said in a statement..."
quelle: bondboard.de
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