Sat | Dec 3, 2016

IMF completes fifth review of Jamaica's performance

Published:Wednesday | September 24, 2014 | 11:31 AM

The Executive Board of the International Monetary Fund (IMF) today completed the fifth review of Jamaica’s economic performance under the Extended Fund Facility (EFF).



A team from the fund was on the island last month, reviewing the country’s performance under the EFF.

 

With the review now completed, the country will be able to access an additional US$68.8 million from the fund.



According to the IMF, the country’s programme is on track.



In a release issued this morning, the IMF said Jamaica’s economic performance supported by the EFF has remained strong.



The fund says gains from Jamaica’s demanding reform programme are emerging.



It says growth is projected to reach just over one per cent in 2014/15, while inflation is trending down to about eight per cent.



However it notes that downside risks remain relatively high.



And according to the IMF, the comprehensive and timely implementation of the government’s economic strategy, supported by the international community, should foster recovery, job creation and reduced poverty.



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