## Jamaica: Eighth Review Under the Arrangement Under the Extended Fund Facility and Request for Waiver for the Nonobservance of Performance Criterion and Modification of Performance Criteria

_IMF Staff Country Reports, June 16, 2015_

## Source details

**Canonical URL:** [Jamaica: Eighth Review Under the Arrangement Under the Extended Fund Facility and Request for Waiver for the Nonobservance of Performance Criterion and Modification of Performance Criteria](https://www.imf.org/en/publications/cr/issues/2016/12/31/jamaica-eighth-review-under-the-arrangement-under-the-extended-fund-facility-and-request-for-42995)

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## Bibliographic details
- Published: June 16, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513532370.002

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### Executive summary
- This paper discusses Jamaica’s Eighth Review Under the Arrangement Under the Extended Fund Facility (ECF) and Request for Waiver for the Nonobservance of Performance Criterion (PCs) and Modification of PCs.
- Jamaica’s economic performance under the authorities’ economic program is on track and has remained strong.
- IMF staff supports the authorities’ request for completion of the eighth review of the arrangement under the ECF.

### Performance on quantitative performance criteria (PCs)
- All PCs for end-March 2015 were met, with the exception of the central government primary balance criterion, which was narrowly missed.
- The nonobservance prompted a request for waiver for that PC and modification of PCs.

### Structural reforms and program implementation
- Structural reforms have advanced broadly in line with the program.
- The paper evaluates progress across fiscal, monetary, and structural policy areas as part of the ECF arrangement.

### Policy conclusions and IMF staff view
- IMF staff supports completion of the eighth review of the arrangement under the ECF.
- The review includes consideration of the waiver for the narrowly missed central government primary balance PC and proposed modifications of PCs.

### Subject areas and keywords
- Subject: Bank credit, Credit, Economic sectors, Money, Public debt, Public sector, Revenue administration
- Keywords: accommodative monetary policy stance, Bank credit, CR, Credit, disbursement of SDR, exchange rate, fiscal year, Global, IMF's Executive Board, inflation trend, ISCR, oil import cost, Public sector

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/jamaica-eighth-review-under-the-arrangement-under-the-extended-fund-facility-and-request-for-42995_