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IMF praises Jamaica’s economic programmes, growth
Thursday, June 23, 2016
THE International Monetary Fund (IMF) says after several decades of low growth and rising public debt, Jamaica has made significant progress in restoring economic stability due mainly to strong policies and programme ownership.
The Washington-based financial institution said the Government’s reform programme, supported by a four-year IMF loan approved in 2013, has been a turning point for the Jamaican economy and a case study in ownership and collaboration.
“Three years into the programme, the macroeconomic landscape has improved dramatically. Inflation is at a historical low and business confidence is at an all-time high. The current account has drastically improved and Jamaica has regained access to both domestic and international financial markets. Public debt dropped by over 18 percentage points of GDP, helped by strong fiscal consolidation and the PetroCaribe debt buyback.
No excuses accepted IMF praises Jamaica’s economic programmes, growth
Thursday, June 23, 2016
THE International Monetary Fund (IMF) says after several decades of low growth and rising public debt, Jamaica has made significant progress in restoring economic stability due mainly to strong policies and programme ownership.
The Washington-based financial institution said the Government’s reform programme, supported by a four-year IMF loan approved in 2013, has been a turning point for the Jamaican economy and a case study in ownership and collaboration.
“Three years into the programme, the macroeconomic landscape has improved dramatically. Inflation is at a historical low and business confidence is at an all-time high. The current account has drastically improved and Jamaica has regained access to both domestic and international financial markets. Public debt dropped by over 18 percentage points of GDP, helped by strong fiscal consolidation and the PetroCaribe debt buyback.
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