IMF Begins Article IV Review in Jamaica

By: - March 12th, 2012

Above: Finance Minister Dr Peter Phillips

By the Caribbean Journal staff

The International Monetary Fund is now undertaking an Article IV review, which could signal the beginning of negotiations for a new programme with the IMF.

The IMF Mission’s review is set for completion March 20.

“Any new agreement with the Fund will be based on the establishment of credible, predictable and achievable macroeconomic targets that would inspire confidence among local and international investors, as well as stakeholders,” Finance Minister Dr Peter Phillips recently told Parliament.

An Article IV consultation gives the Fund an opportunity to assess a country’s health, and is crucial to any negotiations for a new agreement.

The IMF visited Jamaica in January, led by Mission Chief Luis Breuer following the electoral victory of the People’s National Party at the end of December, which had made a new IMF agreement a priority during the campaign season.

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