Jamaica: Interim Staff Report Under Intensified Surveillance

February 18, 2005

Summary

This paper reviews the Interim Staff Report Under Intensified Surveillance for Jamaica. The authorities have reaffirmed their objective of balancing the budget in FY 2005/06, while recognizing that this now poses a greater challenge. The IMF staff now estimates that measures in the range of 2.5–3.0 percent of GDP would be required to meet this goal, compared with the IMF staff’s estimate of 1.7 percent of GDP at the time of the 2004 Article IV consultation. The room to maneuver in monetary and exchange rate policy remains constrained by the debt overhang.

Subject: Budget planning and preparation, Central banks, Expenditure, International reserves, Open market operations, Public debt, Public financial management (PFM)

Keywords: Budget planning and preparation, Caribbean, CR, current account, debt stock, exchange rate, FDI inflow, financing of the budget, fiscal year, foreign currency financing, forex position, GDP, International reserves, ISCR, Open market operations, policy area, public debt debt ratio, public debt-GDP ratio

Pages:
25
Volume:
2005
DOI:
https://doi.org/10.5089/9781451820140.002
Issue:
061
Series:
Country Report No. 2005/061
Stock No:
1JAMEA2005001
ISBN:
9781451820140
ISSN:
1934-7685

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