Jamaica: Ninth Review Under the Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica

September 24, 2015

Preview Citation

Format: Chicago

Jamaica: Ninth Review Under the Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica, (USA: International Monetary Fund, 2015) accessed November 23, 2024

Summary

This paper discusses Jamaica’s Ninth Review Under the Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria (PC). Macroeconomic indicators are improving, but growth remains sluggish. Growth has been revised down to 1.4 percent for FY2015/16 as drought continues to impede agricultural growth for a second year in a row. The program is on track. All the quantitative PCs were met, and structural reforms are broadly on schedule. The transition of the retail repo contracts to a trust-based framework has been completed. Based on continued strong program implementation and the authorities’ policy commitments, the IMF staff recommends completion of the ninth review.

Subject: Credit, Economic sectors, Expenditure, Money, Open market operations, Public debt, Public sector, Revenue administration

Keywords: Bill, Business confidence, Caribbean, CR, Credit, Debt buyback, EFF arrangement, Exchange rate, Fiscal year, Global, Governments of Jamaica, ISCR, Public sector, SDR, Securities dealer sector, Surplus target

Publication Details

Pages:

80
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/270
Stock No:

1JAMEA2015003
ISBN:

9781513518367
ISSN:

1934-7685

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