IDB to Approve Jamaica Loans

The IDB says it plans to support Jamaica by extending $600m in loans this year. The announcement comes after the country’s government executed a voluntary debt swap that registered a 99.2% participation rate. It also signed a $1.3bn stand-by arrangement with the IMF and obtained support from the main multilaterals for its economic reform program. The IDB has already approved some $200m in new loans to Jamaica this year.