Jamaica Resident Representative Site
Resident Representative Office in Jamaica
This web page provides information in on the activities of the Office, views of the IMF staff, and the relations between Jamaica and the IMF. Additional information can be found on Jamaica and IMF country page, including official IMF reports and Executive Board documents that deal with Jamaica.
News and Highlights
Jamaica and The IMF
Jamaica: Sixth Review Under the Extended Fund Facility and Request for Modification of Performance Criteria - Staff Report; Press Release; and Statement by the Executive Director for Jamaica
December 23, 2014
Series: Country Report No. 14/359
Press Release: IMF Executive Board Completes Sixth Review Under the Extended Fund Facility for Jamaica and Approves US$ 67 million Disbursement
Jamaica -- Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, December 03, 2014
December 3, 2014
PDF File Size: 1430Kb
Regional Economic Outlook: Western Hemisphere
Growth in Latin America and the Caribbean (LAC) has slowed down more than anticipated, as weak dynamics in South America have outweighed an incipient recovery in Mexico. Lower-than-expected external demand and softer terms of trade explain some of the weakness, but domestic supply-side bottlenecks and policy uncertainties have also weighed on confidence and private demand in several economies. Notwithstanding the projected pick-up in activity over the period ahead, growth is projected to be as low as 1.3 percent in 2014 and 2.2 percent in 2015. Spare capacity remains limited, however, underscoring the urgency of supply-side reforms to boost productivity and potential growth. Monetary policy and exchange rate flexibility should continue to serve as the first line of defense against adverse shocks, while a looser fiscal stance is unwarranted in most countries, especially those with weak public finances. Financial sector risks bear close monitoring, as the confluence of lower growth, rising U.S. interest rates, and geopolitical tensions could pose a considerable challenge.