Jamaica : : Staff Report for the 2014 Article IV Consultation and Fourth Review under the Extended Arrangement under the Extended Fund Facility and Request for Modification of Performance Criteria

• Record Nr.: UNINA9910828274003321
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2014
• ISBN: 1-4983-6886-7; 1-4983-2214-X; 1-4983-5524-2
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (123 p.)
• Collana: IMF Staff Country Reports
• Disciplina: 338.9
• Soggetti: Economic indicators - Jamaica; Fiscal policy - Jamaica; Economic development - Jamaica; Exports and Imports; Macroeconomics; Money and Monetary Policy; Public Finance; Industries: Financial Services; Debt; Debt Management; Sovereign Debt; Public Enterprises; Public-Private Enterprises; Fiscal Policy; International Lending and Debt Problems; Monetary Policy, Central Banking, and the Supply of Money and Credit: General; National Government Expenditures and Related Policies: General; Public finance & taxation; Civil service & public sector; International economics; Monetary economics; Finance; Public debt; Public sector; External debt; Fiscal consolidation; Credit; Economic sectors; Fiscal policy; Expenditure; Debts, Public; Finance, Public; Debts, External; Expenditures, Public; Jamaica
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di contenuto: Cover; CONTENTS; CONTEXT: A STRATEGY FOR SUSTAINED AND EQUITABLE GROWTH; BOXES; 1. Achievements in the First Program Year; AN EMERGING RECOVERY AMID SHRINKING FISCAL AND EXTERNAL IMBALANCES; AN IMPROVING OUTLOOK; BUT WITH SALIENT DOWNSIDE RISKS; THE GOALS OF THE REFORM AGENDA; A. A Path Toward Sustained Growth and Competitiveness; B. Creating Jobs and Addressing Social Inequalities; C. Entrenching Fiscal and Debt Sustainability; 2. Episodes of Large Debt Reduction in Smaller States-Benchmarking the Ongoing Debt Reduction in Jamaica; D. Fortifying the Framework for Monetary Policy; E. Institutionalizing Sound Financial IntermediationAN ON-TRACK PROGRAM; STATISTICS; STAFF APPRAISAL; FIGURES; 1. Recent Economic Developments; 2. Fiscal Developments; 3. Financial Sector Developments; 4. Public Debt; TABLES; 1. Selected Economic Indicators; 2. Summary of Central Government Operations (In millions of Jamaican dollars); 3. Summary of Central Government Operations (In percent of GDP); 4. Operations of the Public Entities; 5. Summary Balance of Payments; 6. Summary Accounts of the Bank of Jamaica; 7. Summary Monetary Survey; 8. Structural Program Conditionality; 9. Quantitative Performance Criteria10. Indicators of Fund Credit, 2014-25; 11. Schedule of Reviews and Purchases; ANNEXES; I. Jamaica--Risk Assessment Matrix; II. Jamaica--Debt Sustainability Analysis; III. Jamaica's External Stability, Exchange Rate, and Competitiveness Assessment; IV. Assessing Reserve Adequacy; V. Constructing a High-Frequency Economic Growth Indicator for Jamaica; APPENDIX; I. Letter of Intent; Attachment I. Memorandum of Economic and Financial Policies; Attachment II. Technical Memorandum of Understanding; CONTENTS; FUND RELATIONS; RELATIONS WITH THE WORLD BANK; RELATIONS WITH THE INTER-AMERICAN DEVELOPMENT BANKSTATISTICAL ISSUES
• Sommario/riassunto: This 2014 Article IV Consultation highlights that a gradual economic recovery appears to be under way in Jamaica. Growth is estimated at 0.9 percent in FY2013/14, as mining, agriculture, and tourism picked up. Recorded unemployment remains high, but fell from 16 percent to 13.5 percent (in seasonally adjusted terms) from April 2013 to January 2014. Inflation declined to 7.6 percent (year over year) at end-April, as the impact of the ongoing depreciation of the exchange rate was countered by weak domestic demand. Growth is projected to reach ; almost 1½ percent in 2014–2015, as the negative fiscal impulse comes to an end.