The International Monetary Fund (IMF) has confirmed that the country has met all targets under the first review of the new precautionary Standby Arrangement.

Speaking at a media briefing today at the Office of the Prime Minister, IMF Mission Chief to Jamaica, Uma Ramakrishnan, says the country’s performance is tentatively scheduled for consideration by the IMF’s Executive Board in April.

Ms. Ramakrishnan says all targets under the new IMF deal through to last December have been met.

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With that, a positive review is expected next month from the IMF’s Executive Board.

That would mean Jamaica will be able to draw down an additional 170 million US dollars in case of unforeseen economic shocks.

Ms. Ramakrishnan also gave an optimistic outlook on Jamaica’s prospects for economic growth.

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Ms. Ramakrishnan also gave a nod of approval of the budget currently before parliament.

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She’s encouraging the government to continue its focus on reducing debt and reducing the public sector wage bill.

Meanwhile, Finance Minister, Audley Shaw, says the country is on track to meet all its fiscal targets for this year.

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And Prime Minister, Andrew Holness, says he doesn’t see the positive result under the IMF agreement as a reason to celebrate.

He says the country must take responsibility for its fiscal management.

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Mr. Holness says the greatest challenge of the government is to maintain fiscal discipline.

He says this will require greater monitoring of public bodies.

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He also says measures from the old IMF programme are still needed under the current agreement.

When asked if this meant another budgetary support draw-down from the National Housing Trust, Mr. Holness had this to say.

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Prime Minister Holness was speaking today at a media briefing on the IMF agreement. It was held at the Office of the Prime Minister on Hope Road in St. Andrew.

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