IMF completes second quarter review
The Executive Board of the International Monetary Fund ( IMF) has completed its second review of Jamaica’s economic programme; and approved a US$30. 8 million disbursement.
The disbursement increases to US$272 million, the amount of money loaned to the country by the IMF since May this year.
In the notes accompanying the approval, the IMF said the next phase of the Extended Fund Facility programme, will focus on reforms to strengthen the fiscal policy framework.
The priorities will include the implementation of comprehensive tax reform as well as strengthening budget preparation; and the procedures for budget execution and cash management.
The IMF also said the growth agenda needs to be bolstered by speeding up structural reforms that reduce bureaucracy; and improve the government’s interface with the business community.