Antigua and Barbuda will look for support from the International Monetary Fund (IMF) after agreeing to the outlines of fiscal consolidation program, Reuters reports. The broadly-agreed program will seek to raise revenue, reduce expenditure and improve the twin-island Caribbean state’s debt position.

Proposed measures of the program include cutting expenditure on wages and salaries by 20% by 2012, outsourcing some government-provided services, rationalizing the number of ministries and departments and reducing government transfers. The talks with the IMF will help finalize arrangements with the Caribbean Development Bank for Antigua to access $30 million through a two-year loan.

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