(Jamaica Gleaner) The International Monetary Fund (IMF) has given Jamaica high marks for its performance during the second review period since the country entered a new borrowing arrangement in May.
In its review released late last Friday, the IMF said Jamaica’s macroeconomic developments are broadly in line with programme projections. “(The) programme performance is on track, in spite of the difficult economic environment,” said the IMF in a seeming stamp of approval to the work of Finance Minister Dr Peter Phillips and the Portia Simpson Miller led-administration. “There are signs of a gradual recovery from the effects of the global financial crisis and Hurricane Sandy,” added the Fund.
That is a view shared by Phillips, who has been the point man on Jamaica’s performance.
