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Jamaica: Third Review Under the Stand-By Arrangement-Staff Report; Informational Annex; Staff Supplement; And the Press Release on the Executive Board Discussion. (Electronic book text)
Jamaica: Third Review Under the Stand-By Arrangement-Staff Report; Informational Annex; Staff Supplement; And the Press Release...
Jamaica: Third Review Under the Stand-By Arrangement-Staff Report; Informational Annex; Staff Supplement; And the Press Release...

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Jamaica: Third Review Under the Stand-By Arrangement-Staff Report; Informational Annex; Staff Supplement; And the Press Release on the Executive Board Discussion. (Electronic book text)

International Monetary International Monetary Fund

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1. Economic activity remains weak. Real GDP declined by 0.5 percent during 2010Q3 (y/y), reflecting the impact of lower-than-projected growth in Jamaica's major trading partners and the negative impacts of the state of emergency during May-July and Tropical Storm Nicole in September (Figure 1). The damage from the storm, mainly to roads, bridges, and sewerage systems, is officially estimated at 1.7 percent of GDP. Overall activity was also weighed down by financial sector GDP, which declined by 2.8 percent in the aftermath of a drop in interest income as a result of the Jamaica Debt Exchange (JDX). On the positive side, the goods producing sector grew by 2 percent, reflecting robust growth in agriculture and mining; tourist arrivals rose by 3 percent; and, in the labor market, 21,000 jobs were created in net terms, following three quarters of job losses (Figure 2). Growth is now projected to be -0.5 percent for FY2010/11 (compared with 0.6 percent at the time of the second review).

General

Imprint: International Monetary Fund
Country of origin: United States
Release date: 2011
Authors: International Monetary International Monetary Fund
Format: Electronic book text
Pages: 91
ISBN-13: 978-1-283-55262-2
Barcode: 9781283552622
Categories: Books
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LSN: 1-283-55262-0

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