Imbert signs agreement

FINANCE Minister Colm Imbert on Monday signed first tranche of a Policy-Based Loan Agreement in the sum of US$180 million with the Corporación Andina De Fomento (CAF) Development Bank. A statement issued by the ministry said the total loan of US$300 million will be used for the implementation of the programme to support Government’s “Medium-term Fiscal Consolidation Strategy – Phase II”, to boost potential growth and reduce the economy’s vulnerability to external fluctuations and volatility of external terms of trade. The CAF is headquartered in Caracas, Venezuela.