Help Coming for Hurricane-Ravaged C’bean Nations – IMF/World Bank

Caribbean countries devastated by this year’s hurricanes may get some level of debt relief.

Both the IMF and World Bank leaders say they’ll do everything they can to help the region.

This includes concessionary financing for countries like Antigua and Barbuda and Dominica, that don’t qualify because of their designation as middle-income countries.

IMF Managing Director, Christine Lagarde, says she met personally with the Prime Minister of Dominica, Roosevelt Skerrit, on Tuesday.

Christine Lagarde, IMF Managing Director.

And World Bank President, Jim Yong Kim, says they’ll be re-directing funds that had been designated for other purposes, towards rebuilding the Caribbean.

Mr. Kim says they’ll have to decide what to do about the existing debt of affected countries.

They were speaking yesterday at press conferences in Washington DC.