Expert: IMF ‘Seal of Approval’ signals A&B’s trustworthiness

Jamaican lawyer and political expert Dr Paul Ashley said the government should not appear to go against the IMF internationally.

“It is what is called the ‘IMF Seal of Approval’; in other words, the IMF, by approving the programme that the government has embarked upon, sends a signal to other multi-lateral and bi-lateral agencies that the government of Antigua is trustworthy in that it will honour its financial obligations and repay its debt therefore you can extend financial assistance to it,” he warned. “That is what is critical and that is how you retain your credit worthiness in the international environment.”

The political analyst is also skeptical of government’s plan to seek a loan from Venezuela to repay the IMF, as Prime Minister Gaston Browne announced last Tuesday.

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