KINGSTON, Jamaica (AP) — Jamaican finance officials are in Washington to forge a new pact with the International Monetary Fund to address the country's economic problems.

A Monday statement from Jamaica's finance ministry says Jamaican officials and the IMF expect to hammer out a new agreement for the debt–schackled island in coming weeks.

Jamaica's heavy debt and the impact of the global recession led the previous Jamaica Labor Party administration to seek assistance from the IMF in 2010. It provided $1.27 billion in a standby loan, but that deal is due to expire in May.

Jamaican officials have not confirmed the type of deal the island hopes to negotiate.

Last month, Jamaican and IMF officials said Jamaica's economy is getting worse due to high public debt and low growth.