Results of 10th IMF review tomorrow

Jamaicans will know tomorrow whether the staff of the International Monetary Fund (IMF) still believes the country’s economic programme is on track.

The IMF’s review team has now completed its tenth assessment and is expected to provide an update during a press conference at the finance ministry tomorrow morning at 10 o’clock.

At a recent press conference, the Economic Programme Oversight Committee (EPOC) revealed that for the quarter ending September, Jamaica surpassed the IMF targets for both the primary balance and the Net International Reserves (NIR).

It also noted that expenditure was below budget and that tax collection was going well.

However, the co-chair of EPOC, Richard Byles noted that despite some economic targets being exceeded, lack of substantial growth remains a major challenge.