digital information | The Gleaner

IMF Special Report

Jamaica Gleaner News Online

Deadlines

DateAction TypeDescriptionDisbursementsPayments
ContinuousFinancial SectorFull implementation of the Strategic Implementation Strategy across Minitries during 2014/15
ContinuousTax ReformGovernment to implement the Cabinet decision stipulating the immediate cessation of granting of discretionary waivers as described in paragraph 34 of the MEFP
ContinuousLabour Market Interventions and ReformsImplement ongoing and new programmes of training and certification (HEART and strategic growth sectors - transportation, logistics, manufacturing, ICT, tourism)
ContinuousLabour Market Interventions and ReformsDevelop a training initiative to support the logistics hub project within the areas of maritime, aviation and logistics plus various supporting sectors
ContinuousLabour Market Interventions and ReformsProvision of customized curriculum design, training and recruitment services to operators in the Business Process Outsourcing (BPO) sector (in partnership with JAMPRO)
ContinuousLabour Market Interventions and ReformsProvision of customized training aimed at expanding the variety and quality of craft products available to the Tourism Sector (in partnership with TPDCo)
ContinuousStrategic InvestmentsDiversify energy sources from oil to gas based and renewables
ContinuousStrategic InvestmentsIncrease efficiency in the public spaces, and promote conservation in the private sector through public education, technical assistance, and increased access to specialized credit for energy efficiency-enhancing investments
ContinuousStrategic InvestmentsPromote liberalized in delivery through continued efforts to facilitate distributed generation networks
ContinuousStrategic InvestmentsImplement regulatory and legislative changes to improve the business environment, facilitate private sector investment in the energy sector and enhance consumer protection and safeguard standards
ContinuousStrategic InvestmentsStrengthen the resilience of the country to natural disaster through Climate Change Adaptation and Disaster Risk Reduction initiatives and targeted public infrastructure projects (with explicit incorporation in annual budgets of central government or public entities)
ContinuousStrategic InvestmentsPartner with the private sector to establish 9 Agro Parks to stabilize the agricultural supply chain, deepen inter-industry linkages, increase competitive import substitution and activate unutilized rural land and labour.
ContinuousStrategic InvestmentsSupporting resilience in the agricultural sector through 4 environmental related projects: 1) Climate Change Adaptation and Disaster Risk Reduction Project 2) EPA Capacity Building Project 3) Climate Data and Information Management Project 4) Institutional, Mainstreaming and Sectoral Adaptation Project
ContinuousWages and SalariesImplementation of a comprehensive reform of the public sector to enhance efficiency and support containment of the wage bill. Any reclassification must be done in consultation with Fund staff
ContinuousCivil Service PositionsNo net hiring of workers by the government in any year
ContinuousPublic Debt Management StrategyReporting on public debt will be expanded to include domestically guaranteed debt and PetroCaribe Debt
ContinuousPublic Debt Management StrategyReduction in public debt through debt-asset swaps (based on land, buildings etc.) by at least 1% of GDP
ContinuousPublic Debt Management StrategyThe efficiency of the Debt Management Branch will be strengthened through increasing staffing of the middle office, skills training and effective improvements to securities operations, including greater use of auctions for debt placements over the programme period
ContinuousTax Reform / Tax AdministrationPublication without delay of delinquent tax payers and traders upon the initiation of court action
ContinuousTax Reform / Tax AdministrationExpand the automated waiver system to fully track tax waivers
ContinuousTax Reform / Tax AdministrationGovernment will negotiate with financial institutions to reduce their transaction fees towards international standards for receiving tax payments directly or through the e-payment system
ContinuousTax Reform / Tax AdministrationDiscretionary waivers, excluding those granted to charitable organizations and for charitable purposes, will no longer be granted except when this is required to satisfy the GOJ's contractual or other legal obligations. These contractual or other legal obligations comprise 1) those related to international treaties that have not yet been ratified, 2) existing contracts for government projects (as of the start of the arrangement period) 3) existing sector-specific arrangements implements by way of a letter or a contract. All exceptions are spelled out in the TMU
ContinuousTax Reform / Tax AdministrationAny new discretionary waivers that are not covered by the exceptions mentioned (under discretionary waivers) and for which a statutory solution cannot be put in place in time may be grated only up to a de minimis cap (this excludes specific discretionary waivers agreed in advance and listed in the TMU). This de minimis cap will amount to $10 million per month. In additional. total discretionary waivers, excluding those to charitable organizations will be capped at J$80 per month. Waivers to charitable organizations and for charitable purposes will be capped at a level equivalent to the average of the last three years. This cap is determined at $250 million on a monthly basis. Note: caps are not cumulative and cannot raise the cap in any other month
ContinuousReform of Social SpendingStructured attrition, e.g. a freeze on the hiring of teachers in schools that are overstaffed to allow the number of existing teachers to decline by attrition
ContinuousReform of Social SpendingStandardization of the student/teacher ratio at the secondary level
ContinuousReform of Social SpendingEstablishing a clear accountability mechanism enabling the Central Government to set policies that grant schools more autonomy particularly with respect to greater flexibility in the deployment and redeployment of teachers
ContinuousReform of Social SpendingReforming the current study leave policies to take account of the new hiring policy
ContinuousReform of Social SpendingInstituting greater cost recovery at the tertiary level and improving the funding structure of the student loan scheme to facilitate increased access to tertiary level training
ContinuousReform of Social SpendingExpand the benefit coverage of the National Health Fund through a review of NCDs covered and drugs offered in addition to improved procurement and management of pharmaceuticals
ContinuousReform of Social SpendingRevitalize primary health care (PHC) by establishing regional centres of excellence and improving health centers islandwide
ContinuousReform of Social SpendingEstablish a referral system to reduce unnecessary costs at the second and tertiary level
ContinuousTax Reform / Tax Administrationimplementing a debt write-off policy for tax and customs duties arrears
ContinuousTax Reform / Tax Administrationapproving the Tax Administration Jamaica as a semi-autonomous revenue agency.
ContinuousTax Reform / Tax Administrationstrict monthly caps on remaining discretionary tax waivers as a continuous structural benchmark
ContinuousPublic Sector Reformincrease use of public-private-partnerships (PPPs) for developing and upgrading physical infrastructure and service delivery. PPP policy already passed and approved by Parliament
ContinuousPublic Sector Reformincrease civil jurisdiction of the lower courts from J$250,000 to J$1,000,000to reduce case flow burden of minor claims in the Commercial Division of the Supreme Court and thereby improve the timely disposal of substantial commercial disputes.
ContinuousBusiness EnvironmentImplement Mobile Money initative
ContinuousPublic Bodiesmonitoring of public bodies will be strengthened by 1. enforcing a time limit for submission of public bodies' financial statemnets to the auditor general 2. bolstering capacity within the auditor general's office.
May 02, 2028Payment to the IMFNet SDR Charges10961
May 01, 2028Payment to the IMFSDR Assessments1473
Feb 02, 2028Payment to the IMFNet SDR Charges11226
Nov 02, 2027Payment to the IMFNet SDR Charges11236
Aug 02, 2027Payment to the IMFNet SDR Charges11236
May 02, 2027Payment to the IMFNet SDR Charges10869
May 01, 2027Payment to the IMFSDR Assessments1473
Feb 02, 2027Payment to the IMFNet SDR Charges11236
Nov 02, 2026Payment to the IMFNet SDR Charges11236
Aug 02, 2026Payment to the IMFNet SDR Charges11236
May 02, 2026Payment to the IMFNet SDR Charges10869
May 01, 2026Payment to the IMFSDR Assessments1473
Feb 02, 2026Payment to the IMFNet SDR Charges11236
Nov 02, 2025Payment to the IMFNet SDR Charges11236
Aug 02, 2025Payment to the IMFNet SDR Charges11236
May 02, 2025Payment to the IMFNet SDR Charges10869
May 01, 2025Payment to the IMFSDR Assessments1473
Feb 02, 2025Payment to the IMFNet SDR Charges11215
Nov 02, 2024Payment to the IMFNet SDR Charges11205
Aug 02, 2024Payment to the IMFNet SDR Charges11205
May 02, 2024Payment to the IMFNet SDR Charges10961
May 01, 2024Payment to the IMFSDR Assessments1473
Feb 02, 2024Payment to the IMFNet SDR Charges11226
Nov 02, 2023Payment to the IMFNet SDR Charges11236
Aug 02, 2023Payment to the IMFNet SDR Charges11236
May 02, 2023Payment to the IMFNet SDR Charges10869
May 01, 2023Payment to the IMFSDR Assessments1473
Feb 02, 2023Payment to the IMFNet SDR Charges11236
Nov 02, 2022Payment to the IMFNet SDR Charges11236
Aug 02, 2022Payment to the IMFNet SDR Charges11236
May 02, 2022Payment to the IMFNet SDR Charges10869
May 01, 2022Payment to the IMFSDR Assessments1473
Feb 02, 2022Payment to the IMFNet SDR Charges11236
Nov 02, 2021Payment to the IMFNet SDR Charges11236
Aug 02, 2021Payment to the IMFNet SDR Charges11236
May 02, 2021Payment to the IMFNet SDR Charges10869
May 01, 2021Payment to the IMFSDR Assessments1473
Feb 02, 2021Payment to the IMFNet SDR Charges11215
Nov 02, 2020Payment to the IMFNet SDR Charges11205
Aug 02, 2020Payment to the IMFNet SDR Charges11205
May 02, 2020Payment to the IMFNet SDR Charges10961
May 01, 2020Payment to the IMFSDR Assessments1473
Mar 29, 2020Public Debt Management StrategyDebt/GDP ratio of 96%
Feb 02, 2020Payment to the IMFNet SDR Charges11226
Nov 02, 2019Payment to the IMFNet SDR Charges11236
Aug 02, 2019Payment to the IMFNet SDR Charges11236
May 02, 2019Payment to the IMFNet SDR Charges10869
May 01, 2019Payment to the IMFSDR Assessments1473
Feb 02, 2019Payment to the IMFNet SDR Charges11236
Nov 02, 2018Payment to the IMFNet SDR Charges11236
Aug 02, 2018Payment to the IMFNet SDR Charges11236
May 02, 2018Payment to the IMFNet SDR Charges10869
May 01, 2018Payment to the IMFSDR Assessments1473
Feb 02, 2018Payment to the IMFNet SDR Charges11236
Nov 02, 2017Payment to the IMFNet SDR Charges11236
Aug 02, 2017Payment to the IMFNet SDR Charges11236
May 02, 2017Payment to the IMFNet SDR Charges10869
May 01, 2017Payment to the IMFSDR Assessments1473
Mar 21, 2017DisbursementCondition: Fifteenth Review and end-December 2016 performance criteria28330000
Mar 02, 2017Public Financial ManagementPAAC will report to Parliament its view on spending priorities, borrowing and revenue needs within the context of the medium-term targets
Feb 02, 2017Payment to the IMFNet SDR Charges11215
Jan 01, 2017Financial SystemAs per the CIS measure of Dec 2013: remove the cap on investments in foreign securities unless extraordinary circumstances require a reassessment
Dec 23, 2016DisbursementCondition: Fourteenth Review and end-September 2016 performance criteria28320000
Dec 02, 2016Public Financial ManagementMinister will table a half-yearly report on the performance of the economy as required under the FRF. The PAAC will consider this and report on the status of the medium-term economic programme; the progress on meeting specified fiscal targets and the implications for the specified targets for the ensuing fiscal year and the medium term.
Nov 02, 2016Payment to the IMFNet SDR Charges11205
Sep 23, 2016DisbursementCondition: Thirteenth Review and end-June 2016 performance criteria28320000
Aug 02, 2016Payment to the IMFNet SDR Charges11205
Jun 21, 2016DisbursementCondition: Twelfth Review and end-March 2016 performance criteria28320000
May 02, 2016Payment to the IMFNet SDR Charges10961
May 01, 2016Payment to the IMFSDR Assessments1473
Apr 02, 2016TargetsExpectation: Growth of 2%
Apr 02, 2016TargetsExpectation: Inflation of 8%
Apr 02, 2016Access to CreditDouble MSME financing through DBJ relative to 2013/14
Apr 02, 2016TargetsReduce the public deficit from 4.3 percent of GDP to a surplus of just above 1 percent of GDP
Apr 02, 2016Institutional Fiscal Reformimprove overall public sector deficit from 4.3 percent of GDP in FY 2012/13 to a surplus slightly above 1 percent of GDP by 2016/17
Apr 01, 2016TargetsLower the wage bill to 9.7% of GDP
Apr 01, 2016TargetsCentral government budget consistent with overall fiscal balance of 0% of GDP
Apr 01, 2016TargetsDebt/GDP ratio of no more than 100%
Apr 01, 2016TargetsRatio of Wages/GDP for central government of no more than 9% of GDP
Apr 01, 2016Business EnvironmentComplete implementation of the Port Community System (PCS)
Apr 01, 2016TargetsReduce overall tax expenditures from 6% of GDP to no more than 2.5% of GDP. (May involve further phased reduction of statutory rates on GCT, SCT and taxes on international trade depending on revenue performance)
Mar 22, 2016DisbursementCondition: Eleventh Review and end-December 2015 performance criteria28320000
Mar 02, 2016Public Financial ManagementPAAC will report to Parliament its view on spending priorities, borrowing and revenue needs within the context of the medium-term targets
Feb 02, 2016Payment to the IMFNet SDR Charges11226
Feb 02, 2016Payment to the IMFGRA Charges9229
Jan 20, 2016Payment to the IMFGRA Repurchase (SBA)3987500
Jan 01, 2016Financial SystemAs per the CIS measure of Dec 2013: raise the cap on investments in foreign securities from 5 percent of assets to at least 25 percent
Dec 22, 2015DisbursementCondition: Tenth Review and end-September 2015 performance criteria28320000
Dec 02, 2015Public Financial ManagementMinister will table a half-yearly report on the performance of the economy as required under the FRF. The PAAC will consider this and report on the status of the medium-term economic programme; the progress on meeting specified fiscal targets and the implications for the specified targets for the ensuing fiscal year and the medium term.
Nov 02, 2015Payment to the IMFGRA Charges26769
Nov 02, 2015Payment to the IMFNet SDR Charges11236
Oct 20, 2015Payment to the IMFGRA Repurchase (SBA)3987500
Sep 29, 2015Payment to the IMFGRA Repurchase (SBA)3987500
Sep 22, 2015DisbursementCondition: Ninth Review and end-June 2015 performance criteria28320000
Aug 02, 2015Payment to the IMFNet SDR Charges11236
Aug 02, 2015Payment to the IMFGRA Charges60648
Jul 18, 2015Payment to the IMFGRA Repurchase (SBA)3987500
Jun 27, 2015Payment to the IMFGRA Repurchase (SBA)3987500
Jun 26, 2015Payment to the IMFGRA Repurchase (SBA)7962500
Jun 23, 2015DisbursementCondition: Eighth Review and end-March 2015 performance criteria28320000
May 02, 2015Payment to the IMFGRA Charges107600
May 02, 2015Payment to the IMFNet SDR Charges10869
May 01, 2015Payment to the IMFSDR Assessments1473
Apr 18, 2015Payment to the IMFGRA Repurchase (SBA)3987500
Apr 02, 2015TargetsLower the wage bill to 9% of GDP
Apr 02, 2015Public Sector ReformA timetable for the implementation of the new system will be formulated that can guide future programme conditionality
Apr 02, 2015Reform of Social SpendingEnactment of legislation for mandatory redeployment (in interim voluntary reallocation will continue)
Apr 02, 2015TargetsExpectation: Current Account Deficit of the Balance of Payments below 12% of GDP
Apr 01, 2015Strategic InvestmentsEstablishment of all nine Agro Parks
Mar 28, 2015Payment to the IMFGRA Repurchase (SBA)3987500
Mar 26, 2015Payment to the IMFGRA Repurchase (SBA)7962500
Mar 24, 2015DisbursementCondition: Seventh Review and end-December 2014 performance criteria28320000
Mar 02, 2015Public Financial ManagementPAAC will report to Parliament its view on spending priorities, borrowing and revenue needs within the context of the medium-term targets
Mar 01, 2015Public Debt Management StrategyImplement any additional debt reduction measures outlined in the by end May 2014 date
Feb 07, 2015Payment to the IMFGRA Repurchase (SBA)51787500
Feb 02, 2015Payment to the IMFNet SDR Charges11236
Feb 02, 2015Payment to the IMFGRA Charges295277
Jan 20, 2015Payment to the IMFGRA Repurchase (SBA)3987500
Jan 02, 2015Strategic InvestmentsRoll out several components of the plan to establish Jamaica as a logistics hub - expanding cargo, maritime facilities and economic zones. This deadline includes development of the Caymanas Economic Zone, expansion (and privatization) of the Kingston Container Terminal and the privatization and upgrading of the Norman Manley International Airport.
Jan 01, 2015Access to CreditIncrease business development support through Jamaica Business Development Corporation (JBDC)
Jan 01, 2015Access to CreditEstablish a venture capital framework for promoting the incubation of ideas
Jan 01, 2015Public BodiesAnnual reports including audited financial statements for self-financing public bodies to be achieved within 6 months of this date
Dec 27, 2014Payment to the IMFGRA Repurchase (SBA)3987500
Dec 26, 2014Payment to the IMFGRA Repurchase (SBA)7962500
Dec 23, 2014DisbursementCondition: Sixth Review and end-September 2014 performance criteria45950000
Dec 02, 2014Public Financial ManagementMinister will table a half-yearly report on the performance of the economy as required under the FRF. The PAAC will consider this and report on the status of the medium-term economic programme; the progress on meeting specified fiscal targets and the implications for the specified targets for the ensuing fiscal year and the medium term.
Nov 08, 2014Payment to the IMFGRA Repurchase (SBA)51787500
Nov 02, 2014Payment to the IMFNet SDR Charges11236
Nov 02, 2014Payment to the IMFGRA Charges479565
Oct 18, 2014Payment to the IMFGRA Repurchase (SBA)3987500
Sep 27, 2014Payment to the IMFGRA Repurchase (SBA)3987500
Sep 26, 2014Payment to the IMFGRA Repurchase (SBA)7962500
Sep 23, 2014DisbursementCondition: Fifth Review and end-June 2014 performance criteria45950000
Sep 02, 2014Public BodiesAnnual reports including audited financial statements for all other public bodies to be achieved within 6 months of this date
Sep 02, 2014Reform of Social SpendingRestructuring the current scholarship programmes into separate need-based and merit based components. Full implementation
Aug 09, 2014Payment to the IMFGRA Repurchase (SBA)51787500
Aug 02, 2014Payment to the IMFGRA Charges662452
Aug 02, 2014Payment to the IMFNet SDR Charges11236
Jul 19, 2014Payment to the IMFGRA Repurchase (SBA)3987500
Jun 28, 2014Payment to the IMFGRA Repurchase (SBA)3987500
Jun 26, 2014Payment to the IMFGRA Repurchase (SBA)7962500
Jun 21, 2014DisbursementCondition: Fourth Review and end-March 2014 performance criteria45950000
Jun 01, 2014Strategic InvestmentsFinalization of discussions with the IDB on reallocating funds towards the establishment of the Agro Parks
Jun 01, 2014Public Debt Management StrategyThe authorities will collaborate with Fund staff to assess the scale of any remaining efforts that may be needed to reduce public debt to the end March 2020 target of 96% of GDP or less. If necessary, to achieve this objective the government will identify at that time further measures as part of the programme that could include for example further asset sales or swaps and/or other dent reduction measures. The latter could possibly include using exceptional assistance by development partners and in this context the government ahs approached the Paris Club to explore options for debt relief.
May 09, 2014Payment to the IMFGRA Repurchase (SBA)51787500
May 02, 2014Payment to the IMFNet SDR Charges10869
May 02, 2014Payment to the IMFGRA Charges816141
May 01, 2014Payment to the IMFSDR Assessments1473
Apr 19, 2014Payment to the IMFGRA Repurchase (SBA)3987500
Apr 02, 2014Public Financial ManagementGovernment commits to design and adoption of a legally binding fiscal rule to take effect with the FY 2014/15 budget
Apr 01, 2014Institutional Fiscal ReformAdoption of a legally binding fiscal rule to ensure sustainable budgetary balance, to be incorporated in the annual budgets starting with the 2014/15 budget
Apr 01, 2014Tax ReformBroader tax reform to become effective, including the modernization of taxes, with limited exemptions, and lower tax rates (MEFP paragraph 34: includes legislation to 1) modernize income tax, property tax, customs tarrifs and social security contributions 2) greatly reduce tax and tariff exemptions in all major taxes except for a limited range of specific goods and services 3) remove zero rating (except for exports in the case of GCT) and 4) establish an initial prudent reduction in tax rates
Apr 01, 2014Financial SectorGovernment to implement legislative changes regarding unlawful financial operations consistent with Fund TA advice provided in July 2010
Apr 01, 2014Financial SectorGovernment to establish a distinct treatment for retail repo client interests in the legal and regulatory framework (MEFP Paragraph 46) in consultation with Fund staff
Apr 01, 2014Financial SectorEnact Omnibus Banking Law consistent with Fund Staff advice to facilitate effective supervision of the financial sector (harmonize prudential standards across deposit takers, facilitate consolidated supervision of financial conglomerates, strengthen the corrective sanctioning and resolution regime and ensure BOJ has operational independence for supervision. Government will amend the FSC enforcement powers and the BOJ Act in order to vest the BOJ with overall responsibility for financial stability). (Also as per para 47: enable the BOJ and FSC to investigate and impose administrative and civil remedies on unlawful financial organizations that engage in fraudulent or otherwise unlawful activities (for example ponzi schemes)
Apr 01, 2014Labour Market Interventions and ReformsEstablish flexible work arrangements
Apr 01, 2014Labour Market Interventions and ReformsEstablish HEART workforce colleges and three TVET institutions with quality assurance programs to be provided by the Council of Community Colleges of Jamaica
Apr 01, 2014Strategic InvestmentsCommencement of productive activity at four more of the nine Agro Parks
Apr 01, 2014Public BodiesAnnual reports including audited financial statements for public bodies to be achieved within 6 months of this date
Apr 01, 2014Public Debt Management StrategySpecific operations of the debt-asset swaps will be executed
Apr 01, 2014Public Debt Management StrategyGovernment will establish the modalities and legal requirements to effect the reduction in guarantees and execute specific operations. (The government is committed to the withdrawal of guarantees issued to underwrite private domestic loans to public entities equivalent to at least 1% of GDP)
Apr 01, 2014Tax Reform / Tax AdministrationImproving risk management in the context of SEMCAR.
Apr 01, 2014Tax Reform / Tax AdministrationJamaica Customs to be transformed to an Executive Agency within the Ministry of Finance
Apr 01, 2014Public Sector ReformAction will be taken to expand the share of MDAs that utilize the e-Census
Apr 01, 2014Public Sector ReformLegislative amendments further to the White Paper (March 2013) are expected to be submitted
Mar 29, 2014Payment to the IMFGRA Repurchase (SBA)3987500
Mar 26, 2014Payment to the IMFGRA Repurchase (SBA)7962500
Mar 21, 2014DisbursementCondition: Third Review and end-December 2013 performance criteria45950000
Mar 02, 2014Business EnvironmentStart the phased roll out of the Port Community System (PCS)
Mar 02, 2014Public Financial ManagementPAAC will report to Parliament its view on spending priorities, borrowing and revenue needs within the context of the medium-term targets
Mar 02, 2014Public Financial ManagementCTMS for remaining Ministries, Departments and Agencies will be operational (already done was Finance, Education, Transport and Works, Accountant General-Department)
Mar 02, 2014Public Sector ReformA review of public sector employment and remuneration will be completed with technical assistance from International Development Partners to guide the subsequent rationalization of the modalities and terms of employment while maintaining the wage bill within 9 %
Feb 08, 2014Payment to the IMFGRA Repurchase (SBA)51787500
Feb 02, 2014Payment to the IMFNet SDR Charges11236
Feb 02, 2014Payment to the IMFGRA Charges1018057
Jan 02, 2014Labour Market Interventions and ReformsThe Renewable Energy and Efficiency Technology Programme (in partnership with the CARICOM Education for Employment Programme) to create a skilled workforce to design, install and maintain Renewable Energy Systems
Jan 02, 2014Financial SectorThe approval of roll out of Strategic Implementation Strategy for shared corporate services under public sector reform
Jan 01, 2014Business EnvironmentEstablish and operate the Central Collateral Registry (Structural Benchmark) - Secured Transactions Framework
Jan 01, 2014Institutional Fiscal Reformgovernment to finalize the divestment of CAP or implement an asset lease agreement
Jan 01, 2014Tax ReformGovernment to cease the granting of tax incentives under the regime prior to the Omnibus Tax Incentive Act and of any discretionary waivers
Jan 01, 2014Financial SectorGovernment to establish and operate a Central Collateral Registry
Jan 01, 2014Financial SectorGovernment to implement a legal and regulatory framework conducive to Collective Investment Schemes (MEFP Paragraph 45) in consultation with Fund staff (government will amend the Securities Act and attendant regulations to establish a comprehensive framework for the regulation of CIS, amend the income tax law to remove double taxation of CIS, reform the Companies Act to eliminate (or exempt CIS from) the need to register unit holders in the companies registry and publicly commit to a timetable for raising the cap on investments in foreign securities from 5 percent of assets to at least 25 percent by end 2015 and removing the cap by end 2016 unless extraordinary circumstances require a reassessment)
Jan 01, 2014Civil Service PositionsDo not fill the 1000 civil service positions that will become vacant by natural attrition
Dec 28, 2013Payment to the IMFGRA Repurchase (SBA)3987500
Dec 25, 2013Payment to the IMFGRA Repurchase (SBA)7962500
Dec 21, 2013DisbursementCondition: Second Review and end-September 2013 performance criteria19970000
Dec 02, 2013Business Environment Table an Insolvency Act in Parliament
Dec 02, 2013Business Environment Streamline the Business Registration Process through the use of a multi-purpose registration instrument
Dec 02, 2013Public Financial ManagementMinister will table a half-yearly report on the performance of the economy as required under the FRF. The PAAC will consider this and report on the status of the medium-term economic programme; the progress on meeting specified fiscal targets and the implications for the specified targets for the ensuing fiscal year and the medium term.
Dec 02, 2013Public Sector ReformThe government is committed to finalizing the divestment of Clarendon Alumina Partners (CAP) or implementing an asset lease agreement with the option of purchase
Dec 02, 2013Public Sector ReformNegotiations for the divestment of Wallenford Coffee Company should be concluded
Dec 01, 2013Tax ReformGovernment to cease the granting of waivers to charities other than under the Charities Bill
Dec 01, 2013Tax Reform / Tax AdministrationCharitable Organizations will need to apply for eligibility under the Charities Bill as after this date they will no longer be eligible for exemptions granted under the tax acts
Nov 09, 2013Payment to the IMFGRA Repurchase (SBA)51787500
Nov 02, 2013Payment to the IMFNet SDR Charges11236
Nov 02, 2013Payment to the IMFGRA Charges1183877
Nov 01, 2013TargetsLower the wage bill to 10.6% of GDP
Nov 01, 2013Strategic InvestmentsPrepare a Logistics Master Plan to integrate all elements of the project including the establishment of a Commodity Port, Dry Dock and Vernamfield air cargo and passenger facility
Oct 02, 2013Reform of Social SpendingCompleting the re-certification exercise for PATH households
Oct 01, 2013Tax ReformGovernment to table a Charities Bill in the House of Representatives, guided by TA provided by the IDB in consultation with Fund staff
Oct 01, 2013Tax ReformGovernment to take Omnibus Tax Incentive Act in the House of Representatives, guided by TA provided by the IDB in consultation with Fund staff to eliminate ministerial discretionary powers to grant or validate any tax relief, and put in place a transparent regime for limited tax incentives
Sep 26, 2013Payment to the IMFGRA Repurchase (SBA)7962500
Sep 21, 2013DisbursementCondition: First Review and end-June 2013 performance criteria19970000
Sep 02, 2013Labour Market Interventions and ReformsProvision of training in Small Ruminants Husbandry (in partnership with the Ministry of Agriculture and Fisheries) in support of the government's drive to improve the small ruminant stock in Jamaica
Sep 02, 2013Public Debt Management StrategyAction plan will be developed for debt-asset swaps that includes legal and administrative process
Sep 02, 2013Public Sector ReformThe Strategic Human Resources Section of the Office of the Cabinet will be fully staffed.
Sep 02, 2013Reform of Social SpendingDefining a national strategy, improving and expanding agency networks, strengthening appropriate administrative systems and preparing human resource, in anticipation of scaling-up of the Steps-to-Work (STW) programme island-wide
Sep 02, 2013Reform of Social SpendingMandatory retirement at the normal retirement age (schools will have regularized by this time)
Sep 02, 2013Reform of Social SpendingRestructuring the current scholarship programmes into separate need-based and merit based components. Review and design
Sep 01, 2013Institutional Fiscal ReformGovernment to present to Fund staff a conceptual proposal for the design of a fiscal rule
Sep 01, 2013Public Financial ManagementA first, conceptual proposal for the design of the legally binding fiscal rule will be presented to Fund Staff
Aug 09, 2013Payment to the IMFGRA Repurchase (SBA)51787500
Aug 02, 2013Payment to the IMFNet SDR Charges11236
Aug 02, 2013Payment to the IMFGRA Charges1332184
Aug 02, 2013Business Environment Table the Secured Obligations Bill in Parliament - Secured Transactions Framework
Aug 02, 2013Business EnvironmentSelect preferred bidder and commence final negotiations - Port Community System (PCS)
Jul 02, 2013Public Sector Reformweb-based Employee Census System (e-Census) will be used to update census data through 2012
Jul 02, 2013Reform of Social SpendingDefining a graduation strategy for PATH households
Jul 01, 2013Tax AdministrationParliament to adopt amendments to the Revenue Administration Act to 1) provide access to third party information, to enhance compliance management and 2) empower the TAJ to require mandatory filing for groups of taxpayers and/or types of taxes
Jul 01, 2013Tax AdministrationGovernment to increase the professional staff of Large Taxpayer Office (LTO) to 120 staff members
Jul 01, 2013Public Debt Management StrategyA preliminary valuation of assets for debt-asset swaps will be completed
Jun 02, 2013Public Sector ReformImplementation of the Strategic Implementation Strategy for shared corporate services under Public Sector Reform will be established as a 6 month pilot program
Jun 01, 2013Public Financial ManagementThe Government will develop an action plan for financial management reform that will cover a range of areas including: public procurement, the process of budget preparation, execution, and reporting (in particular integration of the presentation and discussion of estimates of expenditure and revenue measures consistent with the medium-term budget framework, and the 5 year investment programme) and completion of the Central Treasury Management System (CTMS)
Jun 01, 2013Tax ReformParliament to adopt amendments to the relevant tax acts to harmonize the tax treatment for charities across tax types and remove ministerial discretion to grant waivers for charities and charitable purposes as described in paragraph 34 of the MEFP
May 09, 2013Payment to the IMFGRA Repurchase (SBA)51787500
May 02, 2013Payment to the IMFNet SDR Charges13347
May 02, 2013Payment to the IMFGRA Charges1434803
May 01, 2013Institutional Fiscal ReformGovernment to table in parliament a budget in line with program commitments
May 01, 2013Institutional Fiscal ReformGovernment to introduce a 5-year public sector investment program (PSIP) beginning with FY 2013/14 to be updated on an annual basis
May 01, 2013Tax Reform / Tax AdministrationAppointment of a regular Commissioner General of Tax Administration
Apr 26, 2013DisbursementCondition: Approval of Arrangement136750000
Apr 02, 2013TargetsIncrease primary surplus from 5.2% of GDP in 2012/13 to 7.5% of GDP in 2013/14
Apr 02, 2013TargetsBalance the deficit in public bodies

IMF Activity Calendar