Mon | Jun 25, 2018

11th and 12th IMF reviews to be combined

Published:Saturday | March 5, 2016 | 8:48 AM

A review mission team from the International Monetary Fund (IMF) is expected in Kingston in May to conduct the 11th and 12th reviews under Jamaica’s Extended Fund Facility with the Fund.

The IMF says these two reviews have been combined to enable the Jamaican authorities to focus on setting up a new administration following the February 25 general elections.

Yesterday Prime Minister Andrew Holness met with a team from the IMF led by Deputy Director of the Western Hemisphere Department, Nigel Chalk, and Mission Chief for Jamaica, Uma Ramakrishnan.

The team said it was pleased that the Jamaica Labour Party administration has stated an intention to continue to implement Jamaica’s economic reform program approved in May 2013.

The IMF says the reform program has thus far been successful in restoring macroeconomic stability and reducing public debt.

The IMF says Holness and the team have agreed to continue a close and open dialogue on designing the policies needed to remove obstacles to strong and sustained growth.

Jamaica has successfully completed 10 reviews under the previous People's National Party administration.