Jamaica

This 2004 Article IV Consultation highlights that following the near crisis in the first half of 2003, the authorities in Jamaica have succeeded over the past year in stabilizing the economy and restoring market confidence. The foreign exchange market stabilized in mid-2003, inflation has decelerated, domestic interest rates have declined, and growth improved, while Jamaica has returned to the international capital market. Real GDP growth reached 2 percent in FY 2003/04. The improvement was led by strong performance in the key tourism and mining sectors.Article IV consultations;Staff Reports;public debt, debt ratio, current account, external debt, debt sustainability, fiscal adjustment, balance of payments, budget balance, current account deficit, tax system, debt dynamics, domestic currency, currency debt, central bank, budget deficit, government debt, fiscal deficit, budget balances, debt burden, public expenditure, tax reform, current account balance, tax administration, fiscal targets, debt restructuring, primary expenditure, debt stock, external financing, fiscal consolidation, fiscal strategy, fiscal adjustment effort, domestic debt, debt management, foreign currency debt, repayments, budget expenditure, external debt sustainability, fiscal discipline, short-term debt, fiscal outlook, capital expenditure, tax revenue, domestic financing, fiscal balance, tax collection, debt outstanding, fiscal deficits, primary budget surplus, government deficit, loan disbursements, total external debt, fiscal reform, fiscal policy, external borrowing, debt overhang, fiscal reforms, primary deficit, fiscal policy framework, debt obligations, net debt, private sector debt, tax base, budget surplus, fiscal consolidation efforts, debt sustainability analysis, interest expenditure, fiscal years, account deficits, tax increases, commercial creditors, fiscal surplus, debt-service, multilateral debt, revenue collection, public sector debt, external shocks, current account deficits, domestic public debt, fiscal accounts, general resources account, public debt management, fiscal constraints, fiscal operations, fiscal assumptions, debt holder, debt from private creditors, central government expenditures, official creditors, fiscal liabilities, government expenditures, budget expenditures, private creditors, fiscal deficit target, fiscal surpluses, tax bases, debt from official creditors, primary fiscal balance, fiscal deficiencies, fiscal outturn