Jamaica: Staff Report for the 2003 Article IV Consultation

IMF Staff Country Reports, March 23, 2004

Source details

Jamaica faced intense macroeconomic imbalances that threatened its macroeconomic stability.
Executive Directors emphasized the need for credible policy actions and strong fiscal adjustment to reduce imbalances and lower vulnerability.
They welcomed the strong fiscal adjustment in the budget.
They encouraged the Bank of Jamaica to reorient monetary policy.
They stressed the need for a policy mix that would restore macroeconomic stability, achieve higher growth, and lower external imbalances.
They emphasized anti-crime measures, infrastructure building, and sector-specific policies to promote growth.

Implement credible policy actions to address macroeconomic imbalances.
Pursue strong fiscal adjustment as set out in the budget.
Reorient monetary policy at the Bank of Jamaica to support stabilization objectives.
Adopt a policy mix aimed at:
- Restoring macroeconomic stability.
- Achieving higher growth.
- Lowering external imbalances.
Strengthen non-macroeconomic measures to support growth:
- Anti-crime measures.
- Infrastructure building.
- Sector-specific policies to promote growth.

Publication title: Jamaica: Staff Report for the 2003 Article IV Consultation
Date on landing page: March 23, 2004
Series: Country Report No. 2004/076
Issue: 076
Volume: 2004
Pages: 70
DOI: https://doi.org/10.5089/9781451820102.002
Stock No: 1JAMEA0012004
ISBN: 9781451820102
ISSN: 1934-7685
Subject: Domestic debt, Economic sectors, Expenditure, External debt, Public debt, Public sector
Keywords: bond issue, bond issuer rating, Caribbean, CR, deficit, disinflation strategy, Domestic debt, exchange rate, finance minister, Global, ISCR, issuer rating, net yield, Public sector, tax package

International Monetary Fund. "Jamaica: Staff Report for the 2003 Article IV Consultation", IMF Staff Country Reports 2004, 076 (2004).