Jamaica: Staff Report for the 2014 Article IV Consultation and Fourth Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criteria
June 20, 2014
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This 2014 Article IV Consultation highlights that a gradual economic recovery appears to be under way in Jamaica. Growth is estimated at 0.9 percent in FY2013/14, as mining, agriculture, and tourism picked up. Recorded unemployment remains high, but fell from 16 percent to 13.5 percent (in seasonally adjusted terms) from April 2013 to January 2014. Inflation declined to 7.6 percent (year over year) at end-April, as the impact of the ongoing depreciation of the exchange rate was countered by weak domestic demand. Growth is projected to reach almost 1½ percent in 2014–2015, as the negative fiscal impulse comes to an end.
Subject: Credit, Economic sectors, Expenditure, External debt, Fiscal consolidation, Fiscal policy, Public debt, Public sector
Keywords: BoJ analysis, business competitiveness, Caribbean, CR, current account, exchange rate, Fiscal consolidation, Global, GoJ securities, GoJ's reform agenda, ISCR, program implementation, Public sector, reform, reform process, right, standing liquidity window
Pages:
122
Volume:
2014
DOI:
Issue:
169
Series:
Country Report No. 2014/169
Stock No:
1JAMEA2014002
ISBN:
9781498324946
ISSN:
1934-7685
