JAMAICA has been successful in meeting the criteria for its first International Monetary Fund (IMF) test.

Trevor Alleyne, chief of the Caribbean division of the IMF and head of the mission to Jamaica, said all performance criteria were met, without the need for waivers, and substantial progress was made on the structural reform agenda.

He said stepped up tax administration measures and expenditure restraint were responsible for meeting the fiscal targets.

On structural reforms, the mission commends the authorities for passage of the new fiscal responsibility framework that will significantly improve the public expenditure management system; the divestment of Air Jamaica; and the notable progress in preparing reforms to improve tax administration and treasury management, and further strengthen the supervisory and regulatory framework of the financial system, Alleyne said.

An IMF team has been in Kingston since May 4, when they met with the Minister of Finance and other government officials.