Jamaica Gets Positive Report from IMF


Jamaica has received a positive report from the International Monetary Fund (IMF) on the performance of the economy last year.
< Minister of Information and Development, Hon. Donald Buchanan, who made the announcement at yesterday's (Feb.19) weekly post Cabinet press briefing at Jamaica House, said that Minister of Finance and Planning, Dr. Omar Davies, received a preliminary copy of the report from the IMF on Friday (Feb.15). "The Finance Minister indicated to Cabinet that in his 14 years as the Finance Minister of Jamaica, as well as his previous encounters with the IMF in his tenure of four years as the head of the Planning Institute of Jamaica (PIOJ), the report he has received is the most positive economic report in those 18 years from the IMF," said Mr. Buchanan. The Information Minister added that Dr. Davies will make a comprehensive report to Parliament on the IMF's report when he tables the first Supplementary Estimates on February 27 in the House of Representatives. The Supplementary Estimates, for fiscal year 2006/2007, were approved on Monday by Cabinet. Following the tabling of the Estimates, the Leader of Government Business in the House of Representatives, Dr. Peter Phillips, will convene a meeting of the Finance Committee on March 6, after which the House will debate the estimates. The PIOJ, at its quarterly press briefing on February 15, reported that the economy grew by 2.7 per cent during the October to December quarter, with the agricultural sub-sector emerging the star performer, with growth of 12.4 per cent.

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