IMF's Martijn cautions Jamaica about next public sector wage talks
Debbie-Ann Wright, News Editor - Radio
The International Monetary Fund’s (IMF) Mission Chief to Jamaica, Jan Kees Martijn, says he is warning Jamaica to be careful how it approaches the next round of wage talks with public sector workers.
He says the outcome has the possibility of affecting Jamaica’s growth targets.
Jamaica has committed to bringing public wages to nine per cent of gross domestic product.
Meanwhile, Martijn says Jamaica’s Extended Fund Facility (EFF) under the IMF's programme is on track and the country’s economic outlook is improving.
Martijn told journalists at a press conference to discuss the IMF’s sixth scheduled staff review of Jamaica’s performance under the programme that the challenge facing the country is to sustain the momentum.
The IMF mission chief says there is the need to pursue wide-ranging efforts to improve the country’s business environment.
Finance Minister Dr Peter Phillips reported that economic growth for the June quarter was 1.8 per cent, adding that this was the fourth consecutive quarter of growth.
Phillips says based on the country’s performance to date it is anticipated that the Board of the IMF will complete the sixth review under the EFF in December.
He says the IMF is scheduled to disburse approximately $68 million to Jamaica under the programme.
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