Sunday, July 20, 2014

IMF Board Completes Final Review Under SBA for St. Kitts and Nevis, Approves US$4.5 Million Disbursement

The Executive Board of the International Monetary Fund (IMF) on July 11 completed the ninth and final review of St. Kitts and Nevis’ economic performance under a program supported by a 36-month Stand-By Arrangement (SBA). The completion of this review enables the authorities to draw an additional amount equivalent to SDR 2.931 million (about US$4.5 million), bringing the total resources available for immediate disbursement to St Kitts and Nevis under the arrangement to SDR 5.141 million (about US$7.9 million). The authorities have expressed the intention to continue to treat the arrangement as precautionary.

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