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IMF review Jamaica’s performance

Published:Monday | March 17, 2008 | 2:52 PM

The International Monetary Fund (IMF) has made a number of suggestions to the Jamaican government to improve and maintain the country’s economic stability over the next fiscal year.

Recently, the IMF team met with representatives of the government, opposition and the private sector to review the country’s recent economic and financial developments and to discuss economic prospects and policies.

The IMF team noted that the steps taken by the central bank to stem capital outflows, contain pressures in the foreign exchange market and address rising inflation are encouraging.

It also welcomed the government’s medium term agenda to address Jamaica’s longstanding twin challenges of low growth and high debt.

The IMF said the government’s plan to balance the budget over a three year period should go a long way to reducing public debt and in turn, encourage investment and improve growth.