Saturday, July 12, 2014





Official: Jamaica 'comfortably' met IMF targets


October 01. 2013 5:41PM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Jamaica's top finance official says the government "comfortably" met conditions set by the International Monetary Fund to pass the first performance review of a loan program despite major challenges.


Finance Minister Peter Phillips told lawmakers Tuesday that the four-year program's front-loaded adjustments and reforms are designed to restore economic growth and place debt on a "firm downward path."


Overall, Jamaica's debt is roughly 142 percent of gross domestic product, one of the most punishing debt-to-GDP ratios in the world.


Phillips says the government hopes that real GDP growth "will return on a sustained basis" to the island, which has had a chronically sputtering economy.


The Washington-based IMF says Jamaica has so far done a good job of implementing fiscal policies under the $944 million loan program.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds