PM BROWNE SAYS HIS ADMINISTRATION WILL NOT AVAIL ITSELF OF US $110 MILLION LOAN FEOM THE IMF
Prime Minister Gaston Browne says that Antigua and Barbuda is not going to avail itself of the US$110 million available via loan from the International Monetary Fund (IMF).
Today, June 22, in Parliament, Leader of the Opposition Jamale Pringle asked Browne about proposed borrowings from the IMF and the terms.
Browne says that, as a member-state of the IMF, Antigua and Barbuda can obtain that loan, but chooses not to, in spite of the 1 per cent interest rate.
Meanwhile, Browne says there has been no discussion on severing public servants as a pre-condition to taking any loan from the IMF.
Instead, he claims that the Government has placed on the table a number of proposals to which the international lending agency has agreed.
Browne says, further, that taking a loan from the IMF – in addition to one from the Caribbean Development Bank (CDB) – would be too much a strain on the Government.
