Jamaica

Jamaica is entering its sixth year of economic reform. Through ongoing fiscal consolidation and active debt management, the public debt-to-GDP ratio is on a firm downward path. Macroeconomic stability is entrenched: inflation is well-anchored, the current account deficit has been reduced, foreign exchange reserves are being rebuilt, and supply-side reforms are improving the business environment. Nevertheless, the hoped-for growth dividends from these reforms have not fully materialized, in part due to recurring weather-related shocks and chronically high crime.