Wed | May 24, 2017

IMF to reveal ninth quarter review result today

Published:Friday | August 21, 2015 | 8:51 AM

A delegation from the International Monetary Fund (IMF) is today expected to state the result of its assessment of Jamaica’s performance for the last quarter of the past financial year.

The team arrived in Jamaica earlier this month to carry out the ninth review under the Extended Fund Facility with the IMF.

It is expected that Jamaica will pass this latest assessment paving the way for another tranche of funds from the IMF.

Last week the Economic Programme Oversight Committee said Jamaica surpassed all its key economic targets in the quarter ending in June.

It said the country achieved a primary surplus balance of $20.4 billion for the quarter, which was $3.4 billion dollars more than the $17 billion target set by the IMF.

The primary surplus if the difference between revenues and expenditure excluding debt payments.

Another strong economic performer for the last quarter was the Net International Reserves, which at the end of June, stood at US$2.1 billion compared with the target of US$1.4 billion.

Other positive economic indicators are a 0.5 per cent inflation rate for the month of June, and 0.4 per cent growth in GDP for the January to March quarter, compared with the corresponding period in 2014.