Jamaica: 2009 Article IV Consultation and Request for a Stand: By Arrangement: Staff Report; Staff Supplement; Public Information Notice and Press Release on the Executive Board Discussion

International Monetary Fund

No 2010/267, IMF Staff Country Reports from International Monetary Fund

Abstract: Jamaica has been stuck in a cycle of low growth and high debt dynamics. It has been severely impacted by the global economic slowdown, and finances have deteriorated. Jamaica’s objective of virtually eliminating the overall public sector deficit is appropriate. Embedding the medium-term fiscal consolidation effort in a comprehensive set of fiscal structural reforms is the key. Strengthening regulatory and supervisory frameworks along with legislative and structural reforms will reduce systemic risks to the financial system. The proposed program carries risks but these risks are manageable.

Keywords: ISCR; CR; debt exchange operation; debt; market condition; market; exchange operation; debt exchange; fund staff calculation; Public sector; Fiscal consolidation; Bonds; Global; Caribbean (search for similar items in EconPapers)
Pages: 105
Date: 2010-07-30
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