Jamaica meets IMF requirements for quarter

Minister of Finance and Planning, Dr. Phillips, says the country’s economy has seen positive growth, for the recently ended quarter.

Dr. Phillips says, for the quarter ending in September, there are indications that the country has seen almost 1 % growth.

Finance Minister Dr. Peter Phillips says the almost 1 % growth in the economy is the  result of the country’s good performance, under the extended fund facility with the International Monetary Fund (IMF).

The Finance Minister made this announcement at a press conference held to close the IMF review of the country for the July to September quarter

He also adds, that Jamaica’s continued success in meeting the targets set by the IMF is a good sign for the country’s economic standing and encourages Jamaicans to take advantage of the benefits, provided under the new policies and laws.

Meanwhile IMF mission head, Jan Kees Martijn says Jamaica has met the requirements under the agreement for the June to September quarter only with a few delays, such as the passing of fiscal incentives legislation.

He adds that the next targets for the country under the programme are focused towards the continuation of tax reform, to attract and facilitate investment and increase employment.

The country is expected to receive a drawdown of US $30 m if the review is approved by the IMF when it meets in late December.

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