Jamaica: Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria
EXECUTIVE SUMMARY Macroeconomic developments are broadly in line with program projections. There are signs of a gradual recovery from the effects of the global financial crisis and hurricane Sandy. Real GDP growth for 2013/14 is projected at just under 1 percent, supported by improved activity in th...
Gespeichert in:
| Format: | Elektronisch E-Book |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
|
| Schriftenreihe: | IMF Staff Country Reports
Country Report No. 13/378 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | EXECUTIVE SUMMARY Macroeconomic developments are broadly in line with program projections. There are signs of a gradual recovery from the effects of the global financial crisis and hurricane Sandy. Real GDP growth for 2013/14 is projected at just under 1 percent, supported by improved activity in the tourism, mining, and agricultural sectors. Inflation has increased due to the depreciation of the exchange rate as well as higher administered prices in the context of the recent fiscal package. International reserves are in line with program requirements, but remain low. The execution of the 2013/14 budget has remained broadly on track. Strong implementation of the program would lay the foundation for sustained economic growth. Program performance is on track, in spite of the difficult economic environment. Jamaica's four-year, SDR 615 million (225 percent of quota) Extended Arrangement under the EFF was approved by the IMF Executive Board on May 1, 2013. All end-September quantitative performance criteria and structural benchmarks were met. The macroeconomic outlook and financing scenario remain broadly in line with earlier projections. The authorities are pressing ahead with the next round of reforms, including strengthening the fiscal policy framework, reforming the securities dealers sector, and enhancing public financial management. Program risks. Risk to the program remains high, including possible external shocks, weak confidence and anemic external demand that could hamper the growth recovery, shortfalls in budget financing and revenue collection, and policy slippages. Appraisal. Based on the performance to date and the authorities' updated policy intentions and commitments, staff recommends completion of the second review under the EFF |
| Beschreibung: | 1 Online-Ressource (82 p) |
| ISBN: | 1484336437 9781484336434 |
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| index_date | 2024-07-03T20:13:13Z |
| indexdate | 2024-07-10T09:35:21Z |
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| owner_facet | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
| physical | 1 Online-Ressource (82 p) |
| psigel | ZDB-1-IMF |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Staff Country Reports |
| spelling | International Monetary Fund Western Hemisphere Dept oth Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria Washington, D.C International Monetary Fund 2013 1 Online-Ressource (82 p) txt rdacontent c rdamedia cr rdacarrier IMF Staff Country Reports Country Report No. 13/378 EXECUTIVE SUMMARY Macroeconomic developments are broadly in line with program projections. There are signs of a gradual recovery from the effects of the global financial crisis and hurricane Sandy. Real GDP growth for 2013/14 is projected at just under 1 percent, supported by improved activity in the tourism, mining, and agricultural sectors. Inflation has increased due to the depreciation of the exchange rate as well as higher administered prices in the context of the recent fiscal package. International reserves are in line with program requirements, but remain low. The execution of the 2013/14 budget has remained broadly on track. Strong implementation of the program would lay the foundation for sustained economic growth. Program performance is on track, in spite of the difficult economic environment. Jamaica's four-year, SDR 615 million (225 percent of quota) Extended Arrangement under the EFF was approved by the IMF Executive Board on May 1, 2013. All end-September quantitative performance criteria and structural benchmarks were met. The macroeconomic outlook and financing scenario remain broadly in line with earlier projections. The authorities are pressing ahead with the next round of reforms, including strengthening the fiscal policy framework, reforming the securities dealers sector, and enhancing public financial management. Program risks. Risk to the program remains high, including possible external shocks, weak confidence and anemic external demand that could hamper the growth recovery, shortfalls in budget financing and revenue collection, and policy slippages. Appraisal. Based on the performance to date and the authorities' updated policy intentions and commitments, staff recommends completion of the second review under the EFF Online-Ausg International Monetary Fund Western Hemisphere Dept Sonstige oth http://elibrary.imf.org/view/IMF002/21013-9781484336434/21013-9781484336434/21013-9781484336434.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title_auth | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title_exact_search | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title_exact_search_txtP | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title_full | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title_fullStr | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title_full_unstemmed | Jamaica Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| title_short | Jamaica |
| title_sort | jamaica second review under the extended arrangement under the extended fund facility and request for modification of performance criteria |
| title_sub | Second Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria |
| url | http://elibrary.imf.org/view/IMF002/21013-9781484336434/21013-9781484336434/21013-9781484336434.xml |
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