IMF Executive Board Completes the First Reviews under the Precautionary and Liquidity Line and Resilience and Sustainability Facility with Jamaica

• The IMF Executive Board concluded its first review under Jamaica’s Precautionary and Liquidity Line (PLL). The PLL serves as insurance against shocks, with access at about US$611Mn. The authorities continue to treat the PLL as precautionary.
• The IMF Executive Board also concluded the first review under the Resilience and Sustainability Facility (RSF) arrangement, making available about US$255Mn under the RSF. Jamaica’s commitment to macroeconomic stability and strong policy frameworks have allowed the country to navigate a difficult global environment. The authorities have continued to enhance fiscal, financial, and AML/CFT policy frameworks, and are implementing an ambitious climate policy agenda.
• IMF noted that entrenched macroeconomic stability and sound policy frameworks continue to support economic growth, allowing Jamaica to navigate a complex global environment. A large primary fiscal surplus continues to support a strong downward trajectory of public debt, the financial system remains well-capitalized, liquid, and stable, and inflation is converging to the midpoint of the Bank of Jamaica’s target band.

  (Source: IMF)