Thursday, January 13, 2011

Housing and Relocation Initiative

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2 comments:

Anonymous said...

Caribbean news now Published on January 13, 2011 -:

WASHINGTON, USA -- The Executive Board of the International Monetary Fund (IMF) on Wednesday approved a combined SDR 5.36 million (about US$8.19 million) in emergency assistance for St Lucia to cope with the economic consequences of Hurricane Tomas.

The financial assistance consists of an SDR 3.83 million (about US$5.85 million) disbursement under the IMF’s Rapid Credit Facility (RCF), and SDR 1.53 million (about US$2.34 million) under the Fund’s Emergency Natural Disaster Assistance (ENDA).

Hurricane Tomas struck St Lucia on October 30, 2010, causing loss of life and significant damage to the nation’s road network, water supply, and agriculture sector. The latest but still preliminary estimates suggest that total damages amount to US$336 million, or about 34 percent of GDP.

Following the Executive Board discussion of St Lucia, Murilo Portugal, deputy managing director and acting chair, said, “St Lucia has been severely affected by Hurricane Tomas, which caused loss of life and significant damages to infrastructure and agriculture. The reconstruction efforts are expected to have a significant fiscal and balance of payment impact, mainly in 2011, posing difficult policy challenges. It will be important to maintain macroeconomic stability and debt sustainability during the rehabilitation.”

“The authorities’ prudent management of the reconstruction efforts, together with the continued sound policies to enhance the fiscal position and address structural issues, will help St Lucia maintain fiscal sustainability and achieve the medium-term debt target,” Portugal added.

January 13, 2011 at 9:56 AM
Anonymous said...

Marigot project is housing for all, UWP style. Oh Monchy also.

January 14, 2011 at 8:59 AM

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