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How did Jamaica do under eighth IMF review? Country’s performance to be revealed today

Published:Tuesday | May 12, 2015 | 10:14 AM

The country is expected to know today whether Jamaica is on track to pass its eighth review under the Extended Fund Facility with the International Monetary Fund (IMF).

Finance Minister, Dr Peter Phillips and Head of the IMF Mission to Jamaica, Dr Jan Kees Martijn are expected to address journalists on the country’s performance in the January to March 2015 quarter in a press conference at 11 a.m.

Last week word came that the government may have to seek a waiver from the fund after missing the primary surplus for the quarter.

It is the first time in the two years of the programme that Jamaican has missed the primary balance target, having recorded $117.2 billion for the fiscal year ended March 2015, falling short of the $121.3 billion by $4.1 billion.