St Vincent gets IMF cash injection

The small Caribbean nation of St Vincent and the Grenadines is to receive US$6.4 million from the International Monetary Fund (IMF) to help restore its struggling economy following severe flooding.

Floods and landslides in December 2013 damaged housing, infrastructure and farm land. Eight people lost their lives during the unusually heavy rain.

Min Zhu, deputy managing director and acting chair of the IMF’s executive board, said: “Rehabilitation and reconstruction spending is expected to widen the fiscal deficit this year. Mindful of the high and growing public debt, the authorities have reiterated their intention to rely mainly on grants and concessional resources to finance the recovery.

“At the same time, they will step up their efforts to mobilise budgetary resources by increasing revenue collection, containing the wage bill and reducing transfers to state-owned enterprises.


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Amnesty International