IMF Debt To Be Cleared This Week

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Prime Minister Gaston Browne

Monday 19th March, 2018 – Prime Minister Gaston Browne says government will repay the International Monetary Fund (IMF) in full this week, ending all financial obligations it would have had with the International Lending Agency.

He made the revelation at the weekend. The announcement comes less than two weeks after a payment of 8 million US Dollars was handed over to the IMF.

That means the multi-million dollar outstanding debt will end Antigua’s obligations to the International Monetary Fund.

Earlier this month, the prime minister had indicated his government’s intention to retire the multi-million dollar debt by June, 2018. The multimillion-dollar loan was approved for the Baldwin Spencer administration following the 2010 global economic.

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Prime Minister Browne says such a substantial loan was an indication of a failed government.

Mr. Browne stated that though saddled with such a debt, the government was able to meet its obligations to public servants.

Prime Minister Gaston Browne.