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Jamaica gets new lending program from World Bank
World Bank official says 4-year lending program is part of economic reform project in Jamaica
Associated Press
2014-05-07 06:42 AM

KINGSTON, Jamaica (AP) -- The Caribbean director of the World Bank says Jamaica will receive $510 million under a four-year lending program.

At a Tuesday news conference in Kingston, Sophie Sirtaine says the program is part of a reform project led by Jamaica.

Sirtaine has praised positive economic signs, including hitting fiscal targets and a recent return to growth. But she also points to Jamaica's weaknesses, such as its high vulnerability to shocks.

She says, "It's not an easy walk, but I think that everybody is trying to do their best to make sure this works."

Last year, Jamaica began a four-year loan package with International Monetary Fund to stabilize its economy. That deal was reached after Jamaica launched a debt-swap program and halted what the prime minister described as a "serious economic crisis."

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