FinMin names project director for IMF implementation unit
Published:Friday | July 5, 2013 | 12:00 AM
Judith Green, who has 25 years of experience in finance, began monitoring the implemen-tation of the new IMF agreement on Monday.
Green took up her new job as project director of the new Coordination and Implementation Unit (CIU) in the Ministry of Finance and Planning, meant to keep the Government and its agencies wedded to the tenets of the four-year External Financing Facility (EFF) signed with the International Monetary Fund (IMF) in May.
The agreement effectively provides Jamaica with a US$932m bailout under conditions requiring the country to reduce its debt, cut the cost of the public sector, and reform its financial system.
"Ms Green will be responsible for monitoring the performance targets and achievements of all the Government of Jamaica's activities in relation to the IMF/EFF. The CIU director will also be required to provide progress/status reports or any other information to the Economic Programme Oversight Committee (EPOC)," said the finance ministry.
EPOC, which is a concession to the private sector, was also created to monitor the agreement. The committee is co-chaired by central bank governor Brian Wynter and President of Sagicor Life Jamaica Richard Byles.
The CIU is a technical unit, which is expected to provide guidance to elements of the Government so that the EFF programme targets are met, whereas the EPOC is more akin to a board of directors, said a finance ministry insider, explaining the difference in the roles of the two bodies to the Financial Gleaner.
Green is a certified chartered accountant, whose quarter decade of experience includes positions with Citibank, PricewaterhouseCoopers, RBC bank, the Public Sector Transformation Unit and the International Finance Corporation as senior investment officer.