KINGSTON, Jamaica (AP) — The prime minister of debt-shackled Jamaica says her government is pushing to negotiate a new agreement with the International Monetary Fund.
Portia Simpson Miller told a conference of her ruling party that she cannot give a deadline for when an IMF pact will be forged. But she stresses that a new agreement is critical to boosting investor confidence and unlocking hundreds of millions of dollars from international organizations.
For years, roughly half of the Jamaican government's budget has been dedicated to paying its huge debt. That has forced the middle-income country to scrimp on schools, hospitals and infrastructure.
During her speech late Sunday, Simpson Miller said "the government has little money to do anything."