The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
Jamaica has achieved considerable success in reducing inflation, restructuring the financial system after the crisis in 1995-96, and further liberalizing the economy through tariff reduction and privatization. The government is urged to strengthen its efforts to put the economy on a less vulnerable path by a stronger fiscal adjustment supported by wage restraint, a more market-determined exchange rate, and an acceleration of structural reforms. The significant progress in structural reform made over recent years as well as the government's determination to continue is commendable.