For the first time since the Jamaican government signed the four-year extended fund facility with the International Monetary Fund (IMF), the primary balance fell short of the budgeted figure in January, the Economic Programme Oversight Committee (EPOC) reported yesterday.
It said that while there are no intra-quarter quantitative performance criteria in the IMF-supported programme, the primary balance of $67.5 billion for the end of January 2014 fell three per cent short of the Government’s budgeted number of $69.6 billion.
The net international reserves (NIR) stood at US$1,077 million at the end of February, an improvement of US$142.2 million over January 2014, EPOC said.
Published in The Gleaner
Read Full Article →