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Country Report Jamaica Product Image

Country Report Jamaica

  • Published: March 2014
  • Region: Jamaica
  • 24 Pages
  • The Economist Intelligence Unit

On March 19th the IMF announced that it had completed its third review of Jamaica's extended fund facility (EFF), enabling release of another US$71.4m under the loan programme.

Release of the funds will bring total disbursements to US$345.8m to date. The four-year facility, worth US$948m, was signed in May of 2013. Upon concluding the review, the IMF said that Jamaica's policy implementation had been strong, noting that the current-account position had improved and that international reserves had increased in line with programme requirements. It also said that execution of the budget for fiscal year 2013/14 (ending in March) was broadly on track.

The Fund acknowledged that the economy was still fragile (indeed, economic growth in 2013 is estimated to have been just 0.1%), and that sustaining the reform momentum would be critical to addressing economic challenges. To support much-needed private investment, it urged the government to reduce bureaucracy, while, at the same time, strengthening social-protection programmes.

Country Report Jamaica

IMF completes third review of loan programme
Impact on the forecast

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