Jamaica’s Structural Fiscal Position

• Jamaica's total public debt burden is expected to fall relative to GDP over the coming years, as the government has managed to rein in spending and restructure large parts of its debts.
• After defaulting on its sovereign debt in 2010 and 2013, Jamaica has significantly improved its fiscal position via IMF-prescribed fiscal consolidation measures.
• After entering into a four-year Extended Facility Fund agreement with the IMF in 2013, the Jamaica government has significantly lowered its debt to GDP ratio, particularly its external debt stock, and placed it on a steady downward trajectory.
• In November 2016, the government renewed its commitment to the IMF's structural reform program through the September 2019, but Fitch expects the policy mix to remain unchanged following the conclusion of the agreement

(Source: Fitch)