IMF Staff Country Reports

Jamaica : Sixth Review Under the Stand-By Arrangements-Press Release; Staff Report; and Statement by the Executive Direct for Jamaica

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

November 7, 2019

Electronic Access:

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Summary:

The 3-year Stand-By Arrangement (SBA) terminates shortly after conclusion of this sixth and final review. As Jamaica graduates from 6½ years of continuous Fundsupported reform programs over two successive arrangements, macroeconomic stability has been entrenched with substantial fiscal over-performance and efforts to address structural weaknesses. Public debt has been significantly reduced, unemployment is at a historic low, credit recovery is gaining force on the back of substantial monetary easing, FX reserves are comfortable, and inflation is subdued. However, for most of the past 6 years, growth has been low. The authorities are committed to policy continuity, safeguarding the hard-earned economic gains, and promoting growth and job creation.

Series:

Country Report No. 19/338

Subject:

Central bank governance Financial and Monetary Sector Financial institutions Financial systems Unemployment