IMF Concluding Statement of the Jamaica Article IV 2018 mission.

Some of the main preliminary findings are:

  • Employment is at historic highs, inflation and the current account deficit are modest, international reserves are at a comfortable level and borrowing costs are at historical lows;
  • Economic growth averages only 0.9% since the reform started in 2013. The main obstacles to growth are crime, bureaucracy, insufficient labor skills, poor access to finance and vulnerability to natural disasters.
  • Reducing the government wage bill is critical to fund the necessary infrastructural investments and to build resilience;
  • Creation of an enabling environment for the private sector will help foster inclusive growth;
  • Formal inflation targeting regime: Upcoming revisions to the Bank of Jamaica Act which includes a clear mandate for price stability, strong governance and a strong central bank balance sheet will help formalize this framework;

Read more HERE

Write a comment