The International Monetary Fund says it will delay releasing the second US$ 80 mn installment next month, as the government has missed two of its targets.
The government signed up for a US$ 567 mn structural adjustment facility in April this year under the Funds poverty reduction and growth facility or PRGF.
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rnThe initial US$ 81 mn tranche was released in April and the second US$ 80 mn instalment was due late October.rn
rnBut the decision has been put off to end November or early December, to allow the Fund to evaluate the governments 2004 budget, which is due in early November.rn
rnldblquote Despite this minor setback, the Fund is pleased with the governments economic performance so far and are confident that the overall targets are achievable, dblquote IMFs Senior Resident Representative, Jeremy Carter told reporters on Monday.rn
rnThe Fund says the government has missed its revenue targets, as well as run into delays to start off the Revenue Collection Authority. rn
rnProgress has also