{
  "title": "Jamaica: Request for an Arrangement Under the Precautionary Liquidity Line and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Jamaica",
  "publication": "IMF Staff Country Reports, March 7, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/03/07/jamaica-request-for-an-arrangement-under-the-precautionary-liquidity-line-and-request-for-530707",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2023/03/07/jamaica-request-for-an-arrangement-under-the-precautionary-liquidity-line-and-request-for-530707",
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  "summary": "This paper highlights Jamaica’s Request for an Arrangement under the Precautionary Liquidity Line (PLL) and Request for an Arrangement under the Resilience and Sustainability Facility (RSF).",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: March 7, 2023\n- This paper highlights Jamaica’s Request for an Arrangement under the Precautionary Liquidity Line (PLL) and Request for an Arrangement under the Resilience and Sustainability Facility (RSF).\n- Context: Jamaica has been buffeted by a difficult global environment—from coronavirus disease, the war in Ukraine, and the ongoing tightening of global financial conditions.\n- The authorities plan to treat the PLL as precautionary."
    },
    {
      "heading": "IMF assessment and qualification for the PLL",
      "content": "- IMF assesses that Jamaica qualifies for the PLL.\n- Performance: Jamaica is performing strongly in three out of five qualification areas and not substantially underperforming in other areas."
    },
    {
      "heading": "Objectives and intended uses of the PLL and RSF",
      "content": "- PLL:\n  - To provide a precautionary arrangement supporting macro-financial stability.\n  - To support efforts to strengthen physical and fiscal resilience to climate change, advance decarbonization of the economy, and manage associated transition risks.\n- RSF:\n  - Expected to catalyze funding for Jamaica’s climate priorities from other official lenders and the private sector.\n  - Will support Jamaica’s agenda to:\n    - Accelerate the transition to renewable power generation.\n    - Increase resilience to climate change.\n    - Enhance the climate focus in fiscal policy frameworks.\n    - Strengthen management of climate risks by financial institutions."
    },
    {
      "heading": "Key substantive findings and policy focus",
      "content": "- The arrangement package (PLL + RSF) combines precautionary balance-of-payments support with targeted climate resilience and transition assistance.\n- Emphasis on mobilizing additional financing (official and private) for climate-related investments and reforms.\n- Integration of climate considerations into fiscal frameworks and financial sector risk management is a central element of the RSF support."
    },
    {
      "heading": "Subjects and keywords (as listed)",
      "content": "- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Climate change, Crime, Environment, External position, International organization, Monetary policy, Natural disasters, Public debt\n- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Caribbean, Climate change, climate priority, Global, Natural disasters, risk financing Policy, RSF policy reform measure, staff appraisal, transition risk\n\nSource: Jamaica: Request for an Arrangement Under the Precautionary Liquidity Line and Request for an Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Jamaica (IMF Staff Country Reports 2023, No. 2023/105), March 7, 2023.\n\n---\n\n Content in this bundle\n\n- 1jamea2023002\n  - 1jamea2023002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1jamea2023002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 7, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400237034.002",
    "Publication date: March 7, 2023",
    "This paper highlights Jamaica’s Request for an Arrangement under the Precautionary Liquidity Line (PLL) and Request for an Arrangement under the Resilience and Sustainability Facility (RSF).",
    "Context: Jamaica has been buffeted by a difficult global environment—from coronavirus disease, the war in Ukraine, and the ongoing tightening of global financial conditions.",
    "The authorities plan to treat the PLL as precautionary.",
    "IMF assesses that Jamaica qualifies for the PLL.",
    "Performance: Jamaica is performing strongly in three out of five qualification areas and not substantially underperforming in other areas.",
    "PLL:",
    "RSF:",
    "The arrangement package (PLL + RSF) combines precautionary balance-of-payments support with targeted climate resilience and transition assistance.",
    "Emphasis on mobilizing additional financing (official and private) for climate-related investments and reforms.",
    "Integration of climate considerations into fiscal frameworks and financial sector risk management is a central element of the RSF support.",
    "Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Climate change, Crime, Environment, External position, International organization, Monetary policy, Natural disasters, Public debt",
    "Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Caribbean, Climate change, climate priority, Global, Natural disasters, risk financing Policy, RSF policy reform measure, staff appraisal, transition risk",
    "**1jamea2023002**"
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