Jamaica: 2018 Article IV Consultation, Third Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria-Press Release and Staff Report

International Monetary Fund

No 2018/103, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2018 Article IV Consultation highlights that Jamaica’s GDP growth is estimated to have been a disappointing 0.5 percent in 2017. Weakness in agriculture, slow recovery in mining, and a deceleration in manufacturing offset growth in tourism and construction. The growth forecast is being revised down to 0.9 percent in FY17/18 and about 2.25 percent in the medium term. Inflation remains well-anchored. Higher food prices resulting from flooding have begun to unwind. The current account deficit remains relatively low (at 2.8 percent of GDP in FY17/18) and it is expected to shrink over the medium-term, as oil prices remain contained and tourism earnings improve.

Keywords: ISCR; CR; core inflation; private sector; central government; exchange rate; BOJ target band; wage bill; inflation targeting; broad money; credit creation; FX market; PFM legal and regulatory frameworks; Public sector; Caribbean (search for similar items in EconPapers)
Pages: 126
Date: 2018-04-16
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