Jamaica: Staff Report for the 2014 Article IV Consultation and Fourth Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criteria

International Monetary Fund

No 2014/169, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2014 Article IV Consultation highlights that a gradual economic recovery appears to be under way in Jamaica. Growth is estimated at 0.9 percent in FY2013/14, as mining, agriculture, and tourism picked up. Recorded unemployment remains high, but fell from 16 percent to 13.5 percent (in seasonally adjusted terms) from April 2013 to January 2014. Inflation declined to 7.6 percent (year over year) at end-April, as the impact of the ongoing depreciation of the exchange rate was countered by weak domestic demand. Growth is projected to reach almost 1½ percent in 2014–2015, as the negative fiscal impulse comes to an end.

Keywords: ISCR; CR; right; BoJ analysis; exchange rate; reform; GoJ securities; GoJ's reform agenda; reform process; business competitiveness; standing liquidity window; program implementation; current account; Public sector; Fiscal consolidation; Global; Caribbean (search for similar items in EconPapers)
Pages: 122
Date: 2014-06-20
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