September 10, 2018 |
Barbados has penned terms with the IMF for a four-year, $290m extended facility fund (EFF) to help the Caribbean island tackle a default and bond restructuring.
On Sunday, the government and the IMF held a joint press conference saying the EFF would be disbursed through four tranches worth $50m and four $25m portions.
The head of the IMF Barbados' delegation, Bert van Selm said the EFF was reserved for countries that needed balance of payments support and those experiencing slow economic growth.
Multilateral financier agrees to $290m facility, but investors remain in the dark on interest payments from the Caribbean island, sources