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IMF team in Jamaica

Published:Tuesday | February 5, 2013 | 12:00 AM

A team from the International Monetary Fund (IMF) was due in the island yesterday and is expected to remain in Jamaica until February 15.

The mission is being headed by Jan Kees Martijn.

In a release yesterday, the Ministry of Finance and Planning said the mission followed extensive discussions by Jamaican officials with representatives of the IMF in Washington, DC.

It also comes after efforts to reach a staff-level agreement on a letter of intent for Jamaica.

The finance ministry said the letter of intent would form the basis of Jamaica's submission to the IMF Board for approval of a four-year extended fund facility at the earliest possible time.

However, before the agreement can be sealed, the Government needs to take certain action.

Among them are measures concerning tax reform and a containment of the public-sector wage bill.