Tweet
International Monetary Fund (IMF) has given the thumbs up to the economic policies being pursued by the Bruce Golding led administration. A statement by the IMF Mission on the Conclusion of the 2008 Article Four Discussion with Jamaica said the Government's medium-term agenda to address low growth and high debt was welcomed.
It noted that the authorities intended to balance the budget over a three-year period, which would go a long way to reduce public debt, encourage investment and improve growth.
The IMF said long-term plans to improve the business climate by simplifying investment procedures; increasing public sector efficiency and reforming the tax system were also well-placed.
Issues relating to alternative investment schemes also caught the IMF team's attention.
The Fund said the Government will have to enhance supervision over non-bank financial institutions and continue to address unregulated schemes which promise abnormally high rates of return.
It noted that the authorities intended to balance the budget over a three-year period, which would go a long way to reduce public debt, encourage investment and improve growth.
The IMF said long-term plans to improve the business climate by simplifying investment procedures; increasing public sector efficiency and reforming the tax system were also well-placed.
Issues relating to alternative investment schemes also caught the IMF team's attention.
The Fund said the Government will have to enhance supervision over non-bank financial institutions and continue to address unregulated schemes which promise abnormally high rates of return.