Jamaica passes IMF test

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Topic: Jamaica passes IMF test

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jubalson

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Date: 08:02 04/01 2010

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The state minister for finance, Arthur Williams is reporting that Jamaica has passed the requirements of the International Monetary Fund (IMF) for March.

In order to meet the IMF requirements the government was required to keep the fiscal deficit at under $107 billion as well as maintain a primary surplus of 66.9 billion and an overall public sector deficit of 133.6 billion.

Senator Williams told The Gleaner Power 106 News that it will be even more significant that the country passes the May test.

Meanwhile financial analyst Ralston Hyman said hes surprised that the country would have passed the test based on the data released by the finance ministry.

JAMAICA has satisfied all the requirements for the first International Monetary Fund IMF test, under its 27-month standby agreement with the multilateral organisation, according to junior minister Arthur Williams.

"Our side (Government team) has informed us that we have met all the conditions of the IMF," Williams, state minister in the Ministry of Finance, told the Observer yesterday.

"We expect that formal confirmation will come in a day or two from the IMF," he added.

The minister said this was an important achievement for the Jamaica Labour Party administration, coming less than two months after the formal signing of the standby agreement. "The main test will come in May when we will be examined for a full quarter under the set conditionalities," said Williams.

The junior minister told an Observer Monday Exchange, two weeks ago, that failing the first quarterly test under the 27- month standby agreement with the IMF would have devastating consequences for the local economy.

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dark_law

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Date: 08:58 04/01 2010

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medsman

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Date: 09:03 04/01 2010

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the poor a feel it __________________ *HOLA MEDS AN MINE YUH ENUP DEAD*

rayonxelnt

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Date: 09:12 04/01 2010

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same thing again..............pure death (literally) dem a put we inna JA need fi realise sey not until we trulty self sufficient to an extent den we will neva outa debt..........we cannot b a 1st worl countrry till we stop tek short cut __________________ :boombox2: CHECK OUT MY SONGS N MI THUGZ SONGZ AS WELL :boombox2: