## 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

_IMF Staff Country Reports, November 2, 2017_

## Source details

**Canonical URL:** [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](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)

## Other formats

- [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)
- [Structured JSON version](/en/publications/cr/issues/2017/11/02/jamaica-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-45363/index.json)
- [Bundle manifest](/en/publications/cr/issues/2017/11/02/jamaica-second-review-under-the-stand-by-arrangement-and-request-for-modification-of-45363/bundle-manifest.json)

## Bibliographic details
- Authors: Arrangement, Request
- Published: November 2, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484325513.002

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### Executive summary and recommendation
- 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.

### Macroeconomic conditions and risks
- 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.

### Policy and structural measures
- 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.

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2017/cr17329-jamaica.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2017/cr17329-jamaica.pdf){rel="external" type="application/pdf"}

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_Source: 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_