IMF more optimistic about Jamaica inflation, current account deficit
WASHINGTON, USA — The International Monetary Fund (IMF) still expects Jamaica to grow at 1.3 per cent in 2014.
In its latest World Economic Outlook, the international lender reaffirmed projections made in its previous report published six months ago.
On the other hand, inflation projections for 2014 in the latest IMF report show considerably lower consumer price movement than was expected last October — 8.5 per cent compared to 9.4 per cent.
The international lender figures Jamaica’s current account deficit will end this year at 8.6 per cent of GDP rather than the 9.7 per cent it projected in its previous report.
The IMF also figures the country’s output in 2013 was higher than previously estimated.
The Statistical Institute of Jamaica (Statin) last month reported that Jamaica grew by 0.2 per cent last calendar year, while the IMF figures it came in at around 0.4 per cent.
— Camilo Thame
