Jamaica: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Jamaica
International Monetary Fund, Jun 30, 2008 - Business & Economics - 60 pages
Economic growth variability is low in Jamaica, with deviations driven more by weather than by external conditions. External developments do, however, have large financial implications for Jamaica. Developments in Jamaica can, in turn, have a significant influence in the wider Caribbean. A recent political transition provides an opportunity to reinvigorate reforms but success will require consensus across the political divide. Economic growth has slowed to 1 percent in FY2007/08 (ending in March), although inflation has surged to 18 percent in recent months.
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amaica’s Article IV Consultation Assessment Bank of Jamaica Banking supervision Baseline BoJ cash losses Budget balance Budgetary capital Caribbean CARICOM central government commercial banks countries current account deficit debt issued debt reduction debt stock deﬁcit depreciation Directors estimates and projections exports external debt ﬁnance financial sector ﬁscal fiscal adjustment foreign exchange market Fund staff estimates GDP deflator global government debt impact implementation improve increase inﬂation International Monetary Fund international reserves Jamaican authorities Jamaican dollar Lebanon liabilities loans M M M macroeconomic medium term Memorandum items monetary and exchange Open market operations Overall balance percent of GDP percent of total PetroCaribe Ponzi schemes Prel primary balance Primary expenditure primary surplus private sector public sector real GDP growth reduce reforms reserve losses risks Scenario shock in percent staff report statistics strengthen target technical assistance U.S. dollars unregulated investment schemes variables