Jamaica

Jamaica has achieved considerable success in reducing inflation, restructuring the financial system after the crisis in 1995–96, and further liberalizing the economy through tariff reduction and privatization. The government is urged to strengthen its efforts to put the economy on a less vulnerable path by a stronger fiscal adjustment supported by wage restraint, a more market-determined exchange rate, and an acceleration of structural reforms. The significant progress in structural reform made over recent years as well as the government’s determination to continue is commendable.Economic conditions;debt, interest, public debt, external debt, liabilities, central bank, payments, domestic debt, debt service, loans, debt dynamics, restructuring, expenditures, treasury bills, current account, debt outstanding, debt management, balance of payments, government deficit, fiscal policy, external public debt, deficits, current account deficit, creditors, domestic financing, external financing, debt service ratio, external debt service, public external debt, debt service payments, fiscal deficits, domestic borrowing, debt restructuring, credit unions, public sector debt, private creditors, commercial borrowings, debt forgiveness, external borrowing, official creditors, sovereign debt, foreign debt, credit rating, budgetary resources, debt burden, commercial borrowing, outstanding debt, domestic currency, commercial loans, obligations, repurchases, taxes, government guarantee, imf purchases, general resources account, repayment, external debt management, reserve bank, short-term debt, debt amortization, consumption tax, currency debt, imf repurchases, debt profile, regulatory environment, tax exemptions, public sector borrowing, bank loans, sovereign bond, balance of payment, current account balance, commercial bank loan, government securities, external debt management capacity, debt management capacity, public debt management