{
  "title": "Jamaica: Fourth Review Under the Stand-By Arrangement, Request for Modification of Performance Criteria, and Monetary Policy Consultation Clause-Press Release; Staff Report; and Statement by the Executive Director for Jamaica",
  "publication": "IMF Staff Country Reports, November 7, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/11/07/jamaica-fourth-review-under-the-stand-by-arrangement-request-for-modification-of-performance-46334",
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  "summary": "Stable macroeconomy but growth continues to underperform. After nearly six years of economic reforms, unemployment is at an almost 11-year low, poverty is at a 9-year low, inflation is low, public debt is firmly on a downward trajectory, and international reserves are at historically high levels.",
  "sections": [
    {
      "heading": "Executive summary: macroeconomic outcomes and challenges",
      "content": "- Stable macroeconomy amid ongoing reforms after nearly six years.\n- Key outcomes:\n  - Unemployment is at an almost 11-year low.\n  - Poverty is at a 9-year low.\n  - Inflation is low.\n  - Public debt is firmly on a downward trajectory.\n  - International reserves are at historically high levels.\n- Main challenge:\n  - Growth remains lackluster despite strong fundamentals.\n  - Private investment has not fully taken advantage of the opportunities presented by macroeconomic stability and strong fundamentals.\n  - Structural impediments need to be quickly addressed to foster capital formation.\n  - Sustained weak growth risks impeding reform momentum and could make achieving the government’s policy objectives more difficult."
    },
    {
      "heading": "Policy implications and priorities (as presented)",
      "content": "- Address structural impediments to foster capital formation and attract private investment.\n- Preserve reform momentum to avoid reversal of gains in unemployment, poverty, public debt, and reserves.\n- Ensure macroeconomic stability continues to support private-sector-led growth."
    },
    {
      "heading": "Thematic coverage (subjects and keywords)",
      "content": "- Subjects:\n  - Economic sectors\n  - Foreign exchange\n  - Inflation\n  - Inflation targeting\n  - Monetary policy\n  - Prices\n  - Public debt\n  - Public sector\n- Keywords:\n  - bill\n  - BOJ's balance sheet\n  - CR\n  - debt definition\n  - Global\n  - GOJ\n  - IMF's Executive Board\n  - Inflation\n  - Inflation targeting\n  - ISCR\n  - Public sector\n  - public-sector wage bill\n  - wage bill reduction\n  - wage outlay\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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    "Published: November 7, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484383117.002",
    "Stable macroeconomy amid ongoing reforms after nearly six years.",
    "Key outcomes:",
    "Main challenge:",
    "Address structural impediments to foster capital formation and attract private investment.",
    "Preserve reform momentum to avoid reversal of gains in unemployment, poverty, public debt, and reserves.",
    "Ensure macroeconomic stability continues to support private-sector-led growth.",
    "Subjects:",
    "Keywords:",
    "**Country Report**"
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