(l-r) Financial Secretary, Devon Rowe listens keenly as HMF Phillips shares pertinent information with Dr. Jan Kees Martijn-IMF moments before the start of the Fifth IMF review held this August.
The International Monetary Fund (IMF) on Wednesday, August 13, conducted the fifth review of Jamaica’s performance under the Extended Fund Facility (EFF).
The IMF Team was led by Dr. Jan Kees Martijn. High level meetings were scheduled with Finance Minister Dr. the Hon. Peter Philips and senior Ministry officials in the Finance Ministry.
The objective of the Mission was to determine if Jamaica met all quantitative targets and structural benchmarks under the programme for the April to June quarter.
Finance and Planning Minister, Dr. the Hon. Peter Phillips, had indicated to the House of Representatives in July of this year, that based on the Government’s assessment, all the criteria for the June quarter were met and he expected a positive outcome from the assessment.
The passing of the fourth IMF test in June, saw Jamaica benefitting from US$70.9million, bringing total disbursements to US$414.4 million.