Jamaica: Staff Report for the 1999 Article IV Consultation
Jamaica has achieved considerable success in reducing inflation, restructuring the financial system after the crisis in 1995–96, and further liberalizing the economy through tariff reduction and privatization. The government is urged to strengthen its efforts to put the economy on a less vulnerable path by a stronger fiscal adjustment supported by wage restraint, a more market-determined exchange rate, and an acceleration of structural reforms. The significant progress in structural reform made over recent years as well as the government's determination to continue is commendable.
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Volume/Issue:
Volume 2000
Issue 008
Publication date: January 2000
ISBN: 9781451820072
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Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , authority , inflation , exchange rate , deficit , Jamaica , Jamaica dollar , sizeable informal economy , fund staff , exchange regime , U , S , dollar , authorities' policy stance , Policy issue , Jamaica's vulnerability , economic statistics , Public sector , Real interest rates , Exchange rates , Caribbean , Global
Summary
Jamaica has achieved considerable success in reducing inflation, restructuring the financial system after the crisis in 1995–96, and further liberalizing the economy through tariff reduction and privatization. The government is urged to strengthen its efforts to put the economy on a less vulnerable path by a stronger fiscal adjustment supported by wage restraint, a more market-determined exchange rate, and an acceleration of structural reforms. The significant progress in structural reform made over recent years as well as the government’s determination to continue is commendable.
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