Following their monthly meeting on March 14, the Economic Programme Oversight Committee (EPOC) is reporting that Jamaica is on target to meet monitored quantitative performance criteria and indicative targets under the Precautionary Standby Agreement (PSBA) signed with the International Monetary Fund (IMF) in November 2016.
The evaluation of Jamaica’s performance under the agreement was released in a recently published report by EPOC which outlined the economy’s progress at the end of January 2017.
According to the report, Jamaica’s fiscal and monetary performance remains strong with tax revenues surpassing expectations and Government expenditure being lower than anticipated.
“Given the trajectory, we believe that the GOJ will meet its quantitative targets and structural benchmarks at the end of March,” observed co-chair Keith Duncan.
The recently published report coincides with the launch of EPOC’s digital media platforms as they make an effort to increase public awareness about Jamaica’s economic performance based on the targets under the PSBA.
According to Duncan, the launch of EPOC’s digital media presence through a blog, Twitter and Facebook platforms is intended to make the information available at any time for Jamaicans.
“We are monitoring Jamaica’s plan because it is our plan for our economy and not the IMF’s, therefore we are cognizant that more persons consume information online, so we have chosen to meet them there,” said Duncan.