Jamaica: Interim Staff Report Under Intensified Surveillance

International Monetary Fund

No 2005/061, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews the Interim Staff Report Under Intensified Surveillance for Jamaica. The authorities have reaffirmed their objective of balancing the budget in FY 2005/06, while recognizing that this now poses a greater challenge. The IMF staff now estimates that measures in the range of 2.5–3.0 percent of GDP would be required to meet this goal, compared with the IMF staff’s estimate of 1.7 percent of GDP at the time of the 2004 Article IV consultation. The room to maneuver in monetary and exchange rate policy remains constrained by the debt overhang.

Keywords: ISCR; CR; GDP; current account; fiscal year; exchange rate; public debt-GDP ratio; forex position; financing of the budget; public debt debt ratio; foreign currency financing; FDI inflow; debt stock; policy area; International reserves; Budget planning and preparation; Open market operations; Caribbean (search for similar items in EconPapers)
Pages: 25
Date: 2005-02-18
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