Jamaica Passes Third IMF Test......which enables the country to benefit from a disbursement of US$71.4 million.....Jamaica's programme implementation under the extended fund facility has remained strong.

 Published: Thursday | March 20, 2014

The International Monetary Fund (IMF) has confirmed thatJamaica has passed the third test under its economic support programme, which enables the country to benefit from a disbursement of US$71.4 million.

The executive board, which completed the third review under the four-year extended fund facility yesterday, hinted that the JamaicanGovernment was expected to maintain its tight rein on expenditure during the next fiscal year as it did in the first few months of the programme.

Completion of the review enables the disbursement of an amount equivalent to SDR 45.9 million, which would bring total disbursements under the arrangement to the equivalent of SDR 222.6 million or about US$345.8 million, the IMF said in a release.

Ja's programme strong

Nayouki Shinohara, deputy managing director and acting chair of the board, said "Jamaica's programme implementation under the extended fund facility has remained strong. The current account has improved markedly and international reserves have increased in line with programme requirements." more