URGENT ¥¥¥ IMF agrees on $750 mn loan to Jamaica

The International Monetary Fund announced Friday it had reached an agreement with Jamaica for a fresh $750 million loan, after the Caribbean country launched a crucial debt swap earlier this week.

"The mission has reached a staff-level agreement with the Jamaican authorities on the key elements of an economic program that can be supported by a 48-month arrangement under the Extended Fund Facility," the IMF said in a statement.