Jamaica: Interim Staff Report Under Intensified Surveillance

IMF Staff Country Reports, June 28, 2005

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Bibliographic details

• Published: June 28, 2005
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451820157.002

Executive summary

• The paper reviews the Interim Staff Report Under Intensified Surveillance for Jamaica.
• Following the adverse economic impact of Hurricane Ivan, the outlook for FY 2005/06 is for a rebound in growth in the context of broad macroeconomic stability.
• Real GDP growth slowed, and damage to agriculture contributed to double-digit inflation in FY 2004/05.
• Achieving the envisaged further reduction in the public debt-to-GDP ratio to 100 percent over the next four years will be challenging and demand high fiscal discipline.
• The IMF staff welcomes the continuing progress toward strengthening the regulatory and supervisory framework of the financial system.

Macroeconomic outlook

• Projection: rebound in growth in FY 2005/06.
• Recent performance: Real GDP growth slowed in FY 2004/05.
• Inflation: damage to agriculture contributed to double-digit inflation in FY 2004/05.
• Policy context: outlook described as occurring within "broad macroeconomic stability."

Public debt and fiscal policy

• Target: reduction in the public debt-to-GDP ratio to 100 percent.
• Time horizon: target to be achieved "over the next four years."
• Assessment: achieving the envisaged reduction "will be challenging and demand high fiscal discipline."

Financial sector regulation and supervision

• IMF staff assessment: welcomes continuing progress toward strengthening the regulatory and supervisory framework of the financial system.

Key statistics and identifiers (as presented)

• Fiscal years referenced: FY 2004/05, FY 2005/06.
• Public debt target: 100 percent.
• Time horizon for debt reduction: next four years.
• Pages: 27
• Volume: 2005
• Issue: 219
• Series: Country Report No. 2005/219
• DOI: https://doi.org/10.5089/9781451820157.002
• Stock No: 1JAMEA2005002
• ISBN: 9781451820157
• ISSN: 1934-7685

Jamaica: Interim Staff Report Under Intensified Surveillance, June 28, 2005

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