Jamaica: Interim Staff Report Under Intensified Surveillance

International Monetary Fund

No 2006/324, IMF Staff Country Reports from International Monetary Fund

Abstract: The Jamaican economy made progress in reducing public debt despite adverse shocks and revenue shortfalls through fiscal consolidation under intensified IMF surveillance. IMF staff monitors the implementation of economic strategy formulated by the authorities. Executive Directors welcomed the monetary stance and the strategy to widen the tax base and strengthen the underlying fiscal position by improving tax administration. They advised to strengthen fiscal consolidation, accelerate structural reforms, and strengthen the resilience of the financial system. They emphasized the need for intensified fiscal efforts to reduce debt rapidly.

Keywords: ISCR; CR; GDP ratio; debt dynamics; foreign currency; interest rate; percent of GDP; private sector; current account; broad money; Public sector; Budget planning and preparation; Global (search for similar items in EconPapers)
Pages: 33
Date: 2006-09-12
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