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Sunday
Sep102017

IMF Refuses to Discuss Barbuda's Debt After Hurricane Irma

While Barbuda, part of the Caribbean island nation of Antigua and Barbuda, continues to reel from having almost the entirety of its infrastructure and 95 percent of its homes destroyed due to Hurricane Irma, the International Monetary Fund, IMF, has rejected a moratorium proposal to discuss the island's US$3 million dollar debt.

The refusal to even converse about funds owed by the tiny Caribbean island came from Christopher Lane, the financial institution's special representative to the United Nations, according to Courthouse News.

“Our general view is that we'd rather put new money in than to have a moratorium,” Lane said.

Speaking in a conference room situated in the basement of the U.N.'s Secretariat Building, Lane further exemplified the IMF's position by stating that the institution may borrow funds from the United States and loan them to Antigua.

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