## 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

_IMF Staff Country Reports, November 7, 2018_

## Source details

**Canonical URL:** [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](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2018/11/07/jamaica-fourth-review-under-the-stand-by-arrangement-request-for-modification-of-performance-46334/index.md)
- [Structured JSON version](/en/publications/cr/issues/2018/11/07/jamaica-fourth-review-under-the-stand-by-arrangement-request-for-modification-of-performance-46334/index.json)
- [Bundle manifest](/en/publications/cr/issues/2018/11/07/jamaica-fourth-review-under-the-stand-by-arrangement-request-for-modification-of-performance-46334/bundle-manifest.json)

## Bibliographic details
- Published: November 7, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484383117.002

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### Executive summary: macroeconomic outcomes and challenges
- Stable macroeconomy amid ongoing reforms after nearly six years.
- Key outcomes:
  - 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.
  - International reserves are at historically high levels.
- Main challenge:
  - Growth remains lackluster despite strong fundamentals.
  - Private investment has not fully taken advantage of the opportunities presented by macroeconomic stability and strong fundamentals.
  - Structural impediments need to be quickly addressed to foster capital formation.
  - Sustained weak growth risks impeding reform momentum and could make achieving the government’s policy objectives more difficult.

### Policy implications and priorities (as presented)
- 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.

### Thematic coverage (subjects and keywords)
- Subjects:
  - Economic sectors
  - Foreign exchange
  - Inflation
  - Inflation targeting
  - Monetary policy
  - Prices
  - Public debt
  - Public sector
- Keywords:
  - bill
  - BOJ's balance sheet
  - CR
  - debt definition
  - Global
  - GOJ
  - IMF's Executive Board
  - Inflation
  - Inflation targeting
  - ISCR
  - Public sector
  - public-sector wage bill
  - wage bill reduction
  - wage outlay

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2018/cr18304-jamaicafourthreview.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2018/cr18304-jamaicafourthreview.pdf){rel="external" type="application/pdf"}

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_Source: 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_