Jamaica: First Reviews Under the Precautionary and Liquidity Line and Under the Resilience and Sustainability Facility Arrangements-Press Release; Staff Report; and Statement by the Executive Director for Jamaica
IMF Staff Country Reports, September 5, 2023
Source details
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- Jamaica: First Reviews Under the Precautionary and Liquidity Line and Under the Resilience and Sustainability Facility Arrangements-Press Release; Staff Report; and Statement by the Executive Director for Jamaica
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Bibliographic details
- Published: September 5, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400254215.002
Overview
- Paper highlights Jamaica’s First Reviews under the Precautionary and Liquidity Line (PLL) and under the resilience and sustainability facility (RSF) arrangements.
- Date: September 5, 2023.
- Entrenched macroeconomic stability and strong policy frameworks have supported economic growth and helped Jamaica navigate a difficult global environment.
Macroeconomic stability and policy frameworks
- Jamaica demonstrates commitment to macroeconomic stability and strong policy frameworks.
- Sound policy frameworks continue to support economic growth, allowing the country to navigate a complex global environment.
Fiscal reform agenda and public sector wages
- Important progress has been made on the fiscal reform agenda.
- Reform of the public wage structure aims to eliminate distortions in the salary scale and to retain skilled workers.
- Improvements have been made in the fiscal policy framework.
Financial sector, AML/CFT, and external resilience
- Authorities have continued to enhance fiscal, financial, and Anti-Money Laundering and combating the Financing of Terrorism (AML/CFT) policy frameworks.
- Strengthened AML/CFT measures form part of the broader financial and institutional reforms underpinning resilience.
Climate policy agenda and green finance
- Authorities are implementing an ambitious climate policy agenda.
- Climate-oriented reforms of the fiscal framework, incentives for investments in renewables, and the greening of the financial system can:
- Foster investor confidence.
- Catalyze private climate financing.
- Disaster risk financing policy is identified among pertinent topics.
Key subjects and keywords
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Central banks, Crime, Expenditure, External debt, International organization, International reserves, Monetary policy, Public debt.
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), climate policy agenda, disaster risk financing policy, Global, International reserves, Jamaican authorities, PLL qualification criteria, Policy agenda, RSF review.
Content in this bundle
- 1jamea2023004 - Executive Summary