## Jamaica: Staff Report for the 2003 Article IV Consultation

_IMF Staff Country Reports, March 23, 2004_

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## Bibliographic details
- Published: March 23, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451820102.002

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### Macroeconomic assessment and key findings
- Jamaica faced intense macroeconomic imbalances that threatened its macroeconomic stability.
- Executive Directors emphasized the need for credible policy actions and strong fiscal adjustment to reduce imbalances and lower vulnerability.
- They welcomed the strong fiscal adjustment in the budget.
- They encouraged the Bank of Jamaica to reorient monetary policy.
- They stressed the need for a policy mix that would restore macroeconomic stability, achieve higher growth, and lower external imbalances.
- They emphasized anti-crime measures, infrastructure building, and sector-specific policies to promote growth.

### Policy recommendations and priorities
- Implement credible policy actions to address macroeconomic imbalances.
- Pursue strong fiscal adjustment as set out in the budget.
- Reorient monetary policy at the Bank of Jamaica to support stabilization objectives.
- Adopt a policy mix aimed at:
  - Restoring macroeconomic stability.
  - Achieving higher growth.
  - Lowering external imbalances.
- Strengthen non-macroeconomic measures to support growth:
  - Anti-crime measures.
  - Infrastructure building.
  - Sector-specific policies to promote growth.

### Publication and document specifics
- Publication title: Jamaica: Staff Report for the 2003 Article IV Consultation
- Date on landing page: March 23, 2004
- Series: Country Report No. 2004/076
- Issue: 076
- Volume: 2004
- Pages: 70
- DOI: https://doi.org/10.5089/9781451820102.002
- Stock No: 1JAMEA0012004
- ISBN: 9781451820102
- ISSN: 1934-7685
- Subject: Domestic debt, Economic sectors, Expenditure, External debt, Public debt, Public sector
- Keywords: bond issue, bond issuer rating, Caribbean, CR, deficit, disinflation strategy, Domestic debt, exchange rate, finance minister, Global, ISCR, issuer rating, net yield, Public sector, tax package

*International Monetary Fund. "Jamaica: Staff Report for the 2003 Article IV Consultation", IMF Staff Country Reports 2004, 076 (2004).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/jamaica-staff-report-for-the-2003-article-iv-consultation-17271_