Jamaica: 2024 Article IV Consultation and Second Reviews Under the Arrangement Under the Precautionary and Liquidity Line and Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Dire

2024 Article IV Consultation and Second Reviews Under the Arrangement Under the Precautionary and Liquidity Line and Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Jamaica

Author: International Monetary Fund. Western Hemisphere Dept.

Jamaica: 2024 Article IV Consultation and Second Reviews Under the Arrangement Under the Precautionary and Liquidity Line and Arrangement Under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Jamaica

Volume/Issue: Volume 2024 Issue 069

Publication date: March 2024

ISBN: 9798400269417

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Topics covered in this book

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Inflation , Money and Monetary Policy , Public Finance , International - Economics , Environmental Economics , Business and Financial , target band , current share , climate change risk , E , WB engagement , RSF reform , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Climate change , Global , Caribbean

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Summary

Over the last decade, Jamaica has successfully reduced public debt, anchored inflation, and strengthened its external position. It has built a strong track record of investing in institutions and prioritizing macroeconomic stability. This allowed Jamaica's response to recent global shocks to be prudent, agile, and supportive of growth. During the most recent fiscal year growth has remained strong, and inflation is converging to the Bank of Jamaica’s inflation target band.