Tue | May 23, 2017

Gov't maintains nothing will derail IMF programme

Published:Thursday | June 11, 2015 | 6:50 PM

The government has reportedly given its commitment that neither a general election nor the current public sector wage negotiations will be allowed to derail the economic programme with the International Monetary Fund (IMF).

The Economic Programme Oversight Committee (EPOC) says the commitment was given during a meeting with Finance Minister, Dr. Peter Phillips on Tuesday.

Co-Chairman of EPOC, Richard Byles is also is expressing strong optimism that Jamaica’s economy will continue its positive performance this fiscal year.

Byles told journalists at the EPOC’s monthly press briefing today that the finance minister also anticipates a positive review of the eighth quarter by the IMF.

An IMF team which visited Jamaica from May 4 to May 12 to review of the economy for the quarter.

The results of that review are expected to be made available by June 16 and upon approval, Jamaica will receive about US$40 million in Special Drawing Rights from the IMF.