Jamaica to negotiate new IMF terms

Jamaica and the International Monetary Fund expect to begin negotiations in the coming weeks on a new deal as grim economic forecasts pose significant dangers for the debt-schackled Caribbean island, officials announced.

At a press briefing in the capital of Kingston, Finance Minister Peter Phillips and IMF mission chief Luis Breuer said there is a worsening economic environment and they have a broad agreement of Jamaica’s many challenges arising from soaring public debt and low economic growth.