Jamaica: Request for Purchase Under the Rapid Financing Instrument-Press Release; Staff Report; and Statement by the Executive Director for Jamaica

This paper presents Jamaica’s Request for Purchase under the Rapid Financing Instrument (RFI). The Jamaican authorities continue to work on the recovery of essential services in the hardest-hit areas and on reconstruction efforts, with focus on supporting the most vulnerable segments of the population affected by the hurricane. Jamaica’s strong track record of economic reforms has created buffers that are proving invaluable in addressing the economic fallout and reconstruction needs. The most urgent policy priorities are to complete the recovery of essential services in the hurricane-hit areas and ensure rapid and efficient reconstruction efforts. The Government of Jamaica is committed to supporting the most vulnerable segments of the population in hurricane-hit areas and rebuilding of damaged infrastructure. The RFI is the appropriate instrument for Jamaica at this juncture given the urgent balance-of-payments needs facing the country. IMF is confident that the authorities will pursue appropriate policies based on their strong track record and policy commitments as well as a robust institutional framework for macroeconomic management.