Jamaica Passes Primary Balance & NIR Targets

Jamaica is set to pass its IMF targets for both the primary balance and Net International Reserves, NIR for the period ending June 2016.

The country is expected to get the nod from the IMF, which is currently in the island conducting the thirteenth quarterly review under the four year Extended Fund Facility.

The primary balance recorded a surplus of $26.8-billion, more than doubling the target of $11-billion.

While Net International Reserves at the end of June are at nearly $2.3-billion, also well above the IMF target of $1.8-billion.

Tax revenues have also exceeded targets for the period, at 108 billion dollars, versus a target of 100 billion.

And the fiscal balance of central government is also above target at negative $7.5-billion, versus a target of negative $26.8-billion.

–30–