IMF – International Monetary Fund

Published purpose

The Enhancing Public Financial Management in the Caribbean initiative promotes improvements in public financial management capacity of target countries during a period of rising financial vulnerabilities. This initiative provides support to Caribbean countries that are facing crises and are prepared to deal with long-standing weaknesses in their fiscal and economic management through a fiscal reform program supported by the International Monetary Fund (IMF). The IMF works with governments, providing short, medium and long-term advice and training designed to respond by country to the precarious financial situation or the conditionalities of IMF extended fund facility arrangements. The fund supports 2 packages of technical assistance. The first, valued at $5 Million to respond to Jamaica’s extended fund facility arrangement with the IMF which is to help support its four-year macroeconomic adjustment program to undertake necessary fiscal and economic reforms. The second valued at $10 million is to respond largely to tourism-dependent Eastern Caribbean countries undergoing deepening financial vulnerabilities and potentially subject to extended fund facility arrangements with the IMF in view of their debt burdens.