Local IMF boss backs waivers

Dr. Gene Leon, the senior representative of the International Monetary Fund, IMF, in Jamaica is supporting the government’s decision to freeze the granting of waivers and incentives.



Dr. Leon said the freeze is necessary to allow the government fiscal space to better manage the economy.



Speaking at forum of the Jamaica Exporters’ Association today, Dr Leon said the current waiver and incentive policy must be reviewed.



The government has indicated that a review has started on the tax waiver and incentive policy.



That exercise is expected is to be completed in December.



The IMF representative says the review is in keeping with a commitment by the Bruce Golding led administration to reassess Jamaica’s tax system as part of the loan agreement with the multilateral lending agency.



Earlier this year, Jamaica signed a US$1.28 billion standby agreement with the IMF.