Jamaica: First Reviews Under the Precautionary and Liquidity Line and Under the Resilience and Sustainability Facility Arrangements-Press Release; Staff Report; and Statement by the Executive Director for Jamaica

International Monetary Fund

No 2023/321, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper highlights Jamaica’s First Reviews under the Precautionary and Liquidity Line (PLL) and under the resilience and sustainability facility arrangements. Jamaica’s commitment to macroeconomic stability and strong policy frameworks has allowed the country to navigate a difficult global environment. The authorities have continued to enhance fiscal, financial, and Anti-Money Laundering and combating the Financing of Terrorism (AML/CFT) policy frameworks, and are implementing an ambitious climate policy agenda. Entrenched macroeconomic stability and sound policy frameworks continue to support economic growth, allowing Jamaica to navigate a complex global environment. Important progress has been made on the fiscal reform agenda, including the reform of the public wage structure to eliminate distortions in the salary scale and to retain skilled workers, and improvements in the fiscal policy framework. Climate-oriented reforms of the fiscal framework, incentives for investments in renewables and the greening of the financial system can foster investor confidence and catalyze private climate financing.

Keywords: Jamaican authorities; disaster risk financing policy; climate policy agenda; RSF review; PLL qualification criteria; Policy agenda; International reserves; Anti-money laundering and combating the financing of terrorism (AML/CFT); Global (search for similar items in EconPapers)
Pages: 77
Date: 2023-09-05
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=538774 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2023/321

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().