IMF praises Jamaica’s performance in latest SBA review

The International Monetary Fund (IMF) has given high marks for Jamaica’s performance under the Stand-By Arrangement (SBA) with the Fund, saying “commitment to the economic reform programme remains strong”, with “economic indicators at historical highs, supported by a favourable macroeconomic environment”.

In its recently released 70-page review of Jamaica’s economic performance, the IMF notes that “unemployment is falling, new jobs are being created, and there is robust activity in construction and hotels and restaurants. Inflation and the current account are low, helped by relatively stable oil prices and the Government’s policy efforts”.

The Fund says “the historically low yields” in the recent global bonds reopening reflect “Jamaica’s hard-won credibility”.