Jamaica’s IMF Facility Necessary Step, but Risks Persist

Jamaica’s IMF Facility Necessary Step, but Risks Persist

Fitch Ratings-Chicago-02 May 2013: Final approval of the International Monetary Fund’s (IMF) four-year Extended Fund Facility (EFF) for Jamaica represents a necessary step in the country’s efforts to stabilize domestic confidence, manage external vulnerabilities and increase the sustainability of public finances. However, Fitch Ratings believes that implementation risks are high given the program’s demanding targets and Jamaica’s erratic record in completing previous IMF programs.

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