Jamaica: First Review Under the Stand-By Arrangement, Request for Waiver of a Performance Criterion, and Request for Modification of Performance Criteria
April 18, 2017
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This paper discusses Jamaica’s First Review under the Stand-by Arrangement (SBA), Request for Waiver of a Performance Criterion (PC), and Request for Modification of PC. Program implementation remains strong under the SBA. Sustained macroeconomic discipline and visible reforms have boosted stability and confidence. Positive real GDP growth has been recorded in seven consecutive quarters, and Jamaica is projected to grow 2 percent in fiscal year 2017/18, bolstered by construction and tourism, among other factors. Inflation reached an all-time low in 2016, and investor confidence is at an all-time high, attracting foreign direct investment. The current account deficit has narrowed significantly, supporting accumulation of nonborrowed reserves.
Subject: Currency markets, Economic sectors, Expenditure, Financial markets, Foreign exchange, Public debt, Public sector
Keywords: base wage, BOJ policy rate, Caribbean, CR, Currency markets, FX market, Global, headline inflation, IMF's Executive Board, ISCR, poverty rate, pricing mechanism, program implementation, Public sector, spending
Pages:
74
Volume:
2017
DOI:
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Issue:
098
Series:
Country Report No. 2017/098
Stock No:
1JAMEA2017002
ISBN:
9781475595215
ISSN:
1934-7685
