02173cas a2200241 a 4500 AALejournalIMF019269 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498311311 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Jamaica : Fifth Review Under the Stand-By Arrangement-Press Release and Staff Report. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (83 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This first review under the Stand-By Arrangement (SBA) highlights that the economy has expanded for the past 15 quarters, unemployment is at historic lows, international reserve coverage is consistently high, inflation is subdued-albeit below the Bank of Jamaica (BOJ) target 4-6 percent range, the stock market was the globe's best performer in 2018, and Fitch recently upgraded Jamaica's credit rating. A slow pick-up in private investment, however, is still pointing to the need to reinvigorate the effort to remove supply-side impediments to growth and job creation. It has been observed that sustained reduction in the public wage bill will require a fundamental transformation of the compensation framework and the public sector. Moreover, the BOJ's recent advances in communication should continue to stress the central bank's commitment to its inflation mandate. The discussions described that an escalation in crime could further curtail private investment and growth. Weaker world growth and tighter global financial conditions represent important downside risks. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/105 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/105/002.2019.issue-105-en.xml IMF e-Library