Thu | Aug 17, 2017

Jamaica on track to pass ninth IMF test

Published:Wednesday | July 1, 2015 | 7:25 PM

Finance Minister, Dr. Peter Phillips has declared that Jamaica is on track to pass another review by the International Monetary Fund (IMF).

The finance minister was speaking this evening at a People’s National Party face-to-face meeting at the Dinthill Technical High School in St. Catherine.

Phillips said his ministry has completed its assessment of the country’s performance and has concluded that all the quantitative targets to pass the ninth IMF test have been met.

Buoyed by the latest indicators, Phillips stressed that the Government would not veer from the economic path to recovery that it has undertaken.

In an apparent barb at Opposition Spokesman on Finance Audley Shaw, Phillips said no loud mouth who borrowed the most money would get the Government to change course.

“We can’t say that there are no challenges, but we have succeeded in maintaining the health of the economy,” he said.

Last month, the IMF board approved the eighth review giving Jamaica access to an additional 39 point 8 million US dollars from the Fund.

The IMF’s review team is expected to arrive in the island in August to carry out the ninth assessment.