Stock Market / Finance in Jamaica
-
JAMAICA, 2015/05/12
Jamaica’s fiscal balance remains in good standing, with the deficit at $7.8 billion at the end of the 2014/15 financial year in March, a senior official has assured.
The figure is $3.6 billion better than the target of $11.4 billion, and can be credited to the lower interest payments on Government of Jamaica (GOJ) bonds, and cuts in spending for the period, according to co-chair of the Economic Programme Oversight Committee (EPOC) Richard Byles.
“What this means is that the government has to borrow less in order to meet all its expenditures inclunding the payment of interest, and so that is good, because it reduces (the) deficit build-up,” he explained.
-
JAMAICA, 2014/10/13
the International Monetary Fund (IMF) Wednesday approved an immediate disbursement of US$68.8 million for Jamaica next completing the fifth review of the island’s economic performance under a four year Extended Fund Facility (EFF) programme.
The IMF said that Jamaica’s economic performance under the US$932 EEF arrangement has remained strong and that “all quantitative performance criteria for end-June 2014, inclunding the continuous quantitative programme targets and structural benchmarks, were met”.
The Washington-based financial institution said gains from Jamaica’s demanding reform programme are emerging.
-
JAMAICA, 2014/10/13
Jamaica has reported that since signing an Extended Fund Facility (EFF) with the International Monetary Fund (IMF), the island has attracted in excess of a billion United States dollars in investments.
Finance and Planning Minister Dr. Peter Phillips said that passing IMF tests had as well created an environment conducive to attracting investments and stablising the local economy.
“I can tell you if we were not passing these tests, life would be tremendously worse,” he said.
-
JAMAICA, 2014/05/26
A tight budget, public sector reform and the implementation of major projects, are some of the challenges that Finance Minister Dr Peter Phillips says Jamaicans will be forced to transaction with in the near next.
According to Phillips, with the fourth quarterly International Monetary Fund (IMF) test out of the way, the next phase which the country is about to enter is additional difficult than the previous one.
“It is easy to not spend in real terms, it is much additional painstaking to tackle the details of the subtle changes that have to be made in each area of public government. It does not attract a grand headline, but it is absolutely significant,” Phillips said.
On Friday it was announced that Jamaica passed its fourth quarterly IMF test under the current agreement for an Extended Fund Facility with the multi-lateral lending agency.
-
JAMAICA, 2014/03/05
International credit rating agency, Fitch, has upgraded Jamaica's credit rating next the country completed its deficit exchange Thursday.
The agency lifted Jamaica's long-term foreign currency issuer default ratings to triple-C, seven notches into junk territory, from restricted default .
According to the Wall Street Journal, the upgrade concludes Fitch's assessment of the country's domestic deficit exchange offer launched on February 12.
“The ratings firm considered the operation a distressed deficit exchange as the swap hurts the original contractual terms of domestic bondholders,” the paper said.
-
JAMAICA, 2012/01/25
Statement by an IMF Mission to Jamaica
Statement by an IMF Mission to Jamaica
Press Release No. 12/22
