IMF Says Jamaica Met All Quarterly Performance Targets

first_imgIMF Says Jamaica Met All Quarterly Performance Targets Finance & Public ServiceAugust 27, 2010 FacebookTwitterWhatsAppEmail “An IMF team visited Kingston during August 18-27 to conduct the second review of the economic programme under the Stand-By Arrangement (SBA) approved by the Fund’s Executive Board on February 4, 2010.International Monetary Fund (IMF) Mission Chief in Jamaica, Trevor Alleyne(left), being greeted by Minister of Finance and the Public Service, the Hon Audley Shaw, at a press briefing at the Ministry, Heroes Circle, Kingston, recently.The focus of the mission was to assess the quantitative performance at end-June 2010 under the SBA and review the ongoing macroeconomic and structural policies. The structural reforms aim at strengthening fiscal management and the financial regulatory and supervisory frameworks.The team met with the Prime Minister Hon. Bruce Golding, the Minister of Finance Hon. Audley Shaw, Bank of Jamaica Governor Brian Wynter, and senior officials. The team thanks the authorities andtechnical staff for their excellent cooperation.“All end-June quantitative performance targets were met. A faster-than-expected improvement in macroeconomic conditions, especially the decline in interest rates on government securities, has had a net positive effect on the overall fiscal deficit. Strong GCT collections, reflecting improved tax administration efforts, and the continued cautiousexecution of expenditure were key to meeting the primary surplus target. The exchange rate has stabilized at an appreciated level and the NIR floor was exceeded by a large margin.“Overall, the structural reform agenda appears to be moving forward on schedule. The authorities have prepared amendments to strengthen the effectiveness of the fiscal responsibility framework; drafted a public sector master rationalization plan; startedimplementation of a tax administration reform; and made further progress in the divestment of public enterprises.In the financial sector, the phasing in of enhanced capital requirements has begun with the implementation of the first installment of risk weights applied to foreign currency denominated securities. The preparation of reforms to keylegislation aimed at further strengthening the supervisory and regulatory framework of thefinancial system is also on track.“The mission and the authorities have agreed on an updated draft Letter of Intent, which will still need to be approved by the Cabinet and IMF’s management.Based on the performance of the economic programme, the mission will recommend that the IMF ExecutiveBoard completes the Second Review of the SBA, which will result in the disbursement of SDR 31.9 million. The Board is expected to meet around the end of September.“The authorities have reiterated their strong commitment to the programme’s policies andobjectives, which aim at correcting long standing economic distortions and structural imbalances. However, ownership of the programme by all sectors remains vital to its success, including the sharing of the burden of fiscal adjustment.“Going forward, the risks to the programme remain high, including from the external economic environment, Jamaica’s very high debt, and the economy’s vulnerability to shocks. However, the mission is confident that the continued strong implementation of the programme will foster a stablemacroeconomic environment and a marked improvement in the overall investment climate which will lay the foundations for long-term sustained economic growth.” RelatedIMF Says Jamaica Met All Quarterly Performance Targets Advertisementscenter_img RelatedIMF Says Jamaica Met All Quarterly Performance Targets RelatedIMF Says Jamaica Met All Quarterly Performance Targetslast_img read more

Man who allegedly shot police officer in the eye accused of taking 4 kids hostage in Orlando

first_img Related WOFL via, Fla.) — An armed suspect has barricaded himself in an Orlando, Florida, apartment with four children, including a 1-year-old, since Monday morning after he allegedly shot and wounded an officer responding to a domestic violence call, authorities said.The wounded officer suffered a “very serious and significant injury” and underwent surgery this morning at Orlando Regional Medical Center, city Police Chief John Mina said.The officer, whose name was not released, was shot in the eye when the gunman fired through the door from inside the apartment when he and other officers approached the unit, ABC Orlando affiliate WFTV reported, citing police and fire department sources. The shooting broke out about 11:45 p.m. Sunday and police negotiators were still trying to get the barricaded man to give up peacefully as a SWAT team surrounded the Westbrook apartment complex. The standoff has now stretched into Monday afternoon, more than 12 hours after it began.“Our main concern right now is the safety of the children that are in that apartment,” Mina said.He said the child hostages are ages 1, 7, 10 and 12. “I believe some of them are his children,” Mina said.Mina said the incident started when the mother of some of the children contacted police to report her boyfriend had battered her and directed officers to an apartment in the Westbrook complex.The mother met with police outside the complex, authorities said. As several police officers approached the apartment, shots rang out and the officer was hit, Mina said. At least one officer fired back at the gunman but Mina said he wasn’t sure whether the suspect was shot. “So right now the suspect is barricaded in his apartment,” Mina said. “He has spoken with us a couple of times but has hung up the phone on us a couple of times, too.” The wounded officer has been on the police force less than two years, the police chief said, adding that the officer is expected to survive.“We’ve been through this before. It’s very hard,” Mina said. “It’s very traumatic to have one of your officers shot in the line of duty. We’re just praying that he’s going to be OK.”The police officer’s shooting comes about 17 months after Sgt. Debra Clayton, a 17-year veteran of the Orlando Police Department, was gunned down allegedly by a man suspected of killing his pregnant former girlfriend. Clayton was shot four times Jan. 9, 2017, during a confrontation with suspect Markeith Loyd, 42, outside a Walmart store in Orlando.Clayton’s death prompted Florida Gov. Rick Scott to remove Orlando-area State Attorney Aramis Ayala from prosecuting the case because she refused to seek the death penalty. Scott appointed a special prosecutor, who filed a motion seeking capital punishment against Loyd.Loyd is scheduled to go on trial in September.Copyright © 2018, ABC Radio. All rights reserved.Powered by WPeMaticolast_img read more