Mon | Jul 23, 2018

Government on track to meet IMF March targets

Published:Thursday | March 30, 2017 | 2:16 PM

The Economic Programme Oversight Committee (EPOC) said Jamaica is on track to meet the quantitative performance criteria and indicative targets under the precautionary standby agreement (PSBA) signed with the International Monetary Fund (IMF) in November 2016.

The evaluation of Jamaica’s performance under the agreement was released in a communique by EPOC which outlined the economy’s progress at the end of January 2017.

According to the communique, Jamaica’s fiscal and monetary performance remains strong with tax revenues surpassing expectations and government expenditure lower than anticipated.

“Given the trajectory, we believe that the GOJ (government of Jamaica) will meet its quantitative targets and structural benchmarks at the end of March,” said EPOC co-chair Keith Duncan.

Publication of the communique coincides with the launch of EPOC’s digital media platforms as committee members make an effort to increase public awareness about Jamaica’s economic performance based on the targets under the PSBA.

According to Duncan, the launch of EPOC’s digital media presence through a blog, Twitter and Facebook platforms is intended to make the information available at any time for Jamaicans.