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Saturday, December 30, 2006
Following the recent conclusion of the Poverty Reduction Growth Facility (PRGF), project funded by the International Monetary Fund (IMF), the Guyanese government intends to go back to the IMF to seek more funds for a successor programme. President Bharrat Jagdeo says Guyana will commence negotiations with the IMF next year, to examine whether or not a successor programme with the International agency would be beneficial to Guyana. A large amount of Guyana's debt to the IMF was cancelled this year through the Multilateral Debt Relief Initiative (MDRI). President Jaghdeo stated however that many of the worlds International Financial Institutions and multilateral agencies favour countries that have a programme with the IMF when dispensing aid.
IMF Representative in Guyana Saqib Rizavi has stated that the fund is indeed open to Guyana applying to be part of a successor programme to the PRGF. Guyana successfully completed its programme with the IMF in September of this year, having met all of its obligations.
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