Jamaica looks to IMF for help

| 15/10/2009

(Jamaica Observer): Finance Minister Audley Shaw yesterday pointed to a just uncovered $21-million fraud allegedly committed by an employee in his ministry over the past five years, a US$1.3-billion fall-out from the economic recession, and years of unsustainable borrowing as among the factors responsible for an inevitable return to a borrowing relationship with the International Monetary Fund (IMF).At the same time, Shaw warned that his government would not be acknowledging any ‘sacred cows’ as the country draws nearer to an agreement with the IMF, adding that the discussions with the lending agency had reached a critical stage.

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