Jamaica: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)
IMF Staff Country Reports, June 28, 2023
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- Jamaica: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)
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Bibliographic details
- Published: June 28, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400245695.002
Overview
- Publication date: June 28, 2023
- Series: Country Report No. 2023/236
- Issue: 236
- Volume: 2023
- Pages: 33
- DOI: https://doi.org/10.5089/9798400245695.002
- Stock No: 1JAMEA2023003
- ISBN: 9798400245695
- ISSN: 1934-7685
- Subject tags: Climate change; Climate policy; Environment; Expenditure; International organization; Monetary policy; Natural disasters; Public investment spending
Key findings
- Jamaica depends on fossil fuels imports for energy generation, creating a need for transition to renewables, despite Jamaica’s contribution to worldwide greenhouse gases emissions being insignificant.
- Climate risks and natural disasters pose major threats to Jamaica’s public infrastructure.
- There is considerable scope to strengthen climate-responsive public investment.
- Progress has been made in:
- the development of a comprehensive climate change policy framework
- planning for disaster risk financing
- Coordination weaknesses:
- Coordination across the central government and with municipal corporations is weak.
- No institution is positioned strategically to lead either adaptation or mitigation related investments.
C-PIMA assessment outcomes
- The assessment makes eight high-priority recommendations aimed at improving climate-related public investment management processes in Jamaica and supporting green and sustainable economic growth.
- The report provides:
- an action plan for implementation of these recommendations over the short and medium term
- identification of responsible agencies
- areas where additional technical assistance could be useful
Policy implications and priorities (as presented)
- Strengthen institutional leadership and coordination for adaptation and mitigation investments across central government and municipal corporations.
- Accelerate transition to renewable energy to reduce dependence on fossil fuel imports for energy generation.
- Integrate climate risk and disaster considerations more systematically into public investment planning and infrastructure decision-making.
- Enhance disaster risk financing planning and link it to public investment management.
Action plan and technical assistance
- An action plan is provided in the report that:
- sequences implementation over the short and medium term
- assigns responsible agencies for recommended reforms
- identifies specific areas where additional technical assistance could be useful
International Monetary Fund. Fiscal Affairs Dept. "Jamaica: Technical Assistance Report-Climate Public Investment Management Assessment (C-PIMA)", IMF Staff Country Reports 2023, 236 (2023).
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- 1jamea2023003