The Gleaner
Update-Jamalco alumina refinery stake sold
Edited by : AL CIRCLE
1 min read
The Cabinet, we have been told, has signed off on the sale of the Government's 45 per cent stake in the Jamalco alumina refinery, which will remove one of the sticking points in Jamaica's negotiations with the International Monetary Fund (IMF) for the rehabilitation of its stalled standby agreement with the Fund.
Clarendon Alumina Production (CAP), the vehicle that holds the Government's Jamalco shares, has, in recent years,lost a lot of money.The IMF, therefore, insists that it should be let loose as part of efforts to rein in the fiscal deficit and take control of the public debt.
Clarendon Alumina Production (CAP), the vehicle that holds the Government's Jamalco shares, has, in recent years,lost a lot of money.The IMF, therefore, insists that it should be let loose as part of efforts to rein in the fiscal deficit and take control of the public debt.
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