Tue | Nov 30, 2021

PSOJ optimistic Jamaica will pass first IMF test

Published:Friday | June 21, 2013 | 1:27 PM

The Private Sector Organisation of Jamaica (PSOJ) says it’s optimistic that Jamaica will pass its first test under the International Monetary Fund (IMF) Extended Fund Facility.



“We are in full support of the general objectives of the programme, and the reforms and timelines, which must be accomplished to achieve the expected benefits,” PSOJ president Christopher Zacca also said in a statement this morning.



“Now more than any other time in Jamaica’s history, we do not have any other choice but to ensure that we achieve, through the programme, robust economic growth and fiscal sustainability. If we fail to do so, it will be a significant setback for Jamaica.



Zacca urged the public and all other stakeholders, to join the PSOJ in supporting the implementation of the programme, and to pay careful attention to the work and communication of the Economic Programme Oversight Committee.



“Our understanding from the non-governmental members of EPOC is that we are currently on track to meet all the June targets under the IMF programme, and we will continue to carefully monitor the progress made towards all financial targets and structural benchmarks under the programme on an ongoing basis,” Zacca said.



However, he has cautioned that careful consideration must be given before the implementation of any part of the programme.



According to Zacca, the Government should ensure that all stakeholders are consulted on a proactive basis in order to avoid any negative repercussions.



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