Saturday, January 20, 2018

Gonsalves defends new IMF policies


St Vincent and the Grenadines Prime Minister Dr Ralph Gonsalves has defended the new attitude of the International Monetary Fund (IMF) to developing coun­tries,

even as he acknow­ledged not being fully satisfied with its lending policies. 

Gonsalves called in to the television programme Time to Face the Facts on Sunday night. The programme looked at the role of the IMF in the Caribbean

Gonsalves recalled St Vincent and the Grenadines had benefitted from a US$6.4 million

loan given by the Washington DC-based financial institution, “especially in relation to balance of payments difficulties which arose out of consequence of the December 2013 natural disaster.

“The IMF of today is a somewhat different IMF than hitherto, in terms of the manner in which it conducts its business, and there is clearly an influence of new persons ...but we still have somewhere to go,” he told tel­-

evision viewers.      —CMC