{
  "title": "Jamaica: Second Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Jamaica",
  "publication": "IMF Staff Country Reports, November 2, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/11/02/jamaica-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-45363",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2017/11/02/jamaica-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-45363",
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  "summary": "This paper discusses Jamaica’s Second Review under the Stand-by Arrangement and Request for Modification of Performance Criteria (PCs). Jamaica’s economy is showing sustained signs of activity, but growth remains vulnerable to the weather.",
  "sections": [
    {
      "heading": "Executive summary and recommendation",
      "content": "- IMF staff recommends completion of the second review under the Stand-by Arrangement based on continued strong program implementation and reform commitments.\n- Program implementation remains strong: all performance criteria (PCs) and structural benchmarks for the end of June were met.\n- The landmark public pension reform bill was passed by Parliament."
    },
    {
      "heading": "Macroeconomic conditions and risks",
      "content": "- Jamaica’s economy is showing sustained signs of activity, but growth remains vulnerable to the weather.\n- Inflation and the current account deficit are low, helped by relatively stable oil prices and the government’s policy efforts.\n- The historically low yields in the recent global bond reopening reflect Jamaica’s hard-won credibility."
    },
    {
      "heading": "Policy and structural measures",
      "content": "- Continued policy efforts by the government have contributed to low inflation and a contained current account deficit.\n- Passage of public pension reform is a key structural achievement supporting fiscal sustainability.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "[Markdown version](/en/publications/cr/issues/2017/11/02/jamaica-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-45363/index.md)",
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    "Authors: Arrangement, Request",
    "Published: November 2, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484325513.002",
    "IMF staff recommends completion of the second review under the Stand-by Arrangement based on continued strong program implementation and reform commitments.",
    "Program implementation remains strong: all performance criteria (PCs) and structural benchmarks for the end of June were met.",
    "The landmark public pension reform bill was passed by Parliament.",
    "Jamaica’s economy is showing sustained signs of activity, but growth remains vulnerable to the weather.",
    "Inflation and the current account deficit are low, helped by relatively stable oil prices and the government’s policy efforts.",
    "The historically low yields in the recent global bond reopening reflect Jamaica’s hard-won credibility.",
    "Continued policy efforts by the government have contributed to low inflation and a contained current account deficit.",
    "Passage of public pension reform is a key structural achievement supporting fiscal sustainability.",
    "**Country Report**"
  ],
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