First Look

CaPRI partners with the USAID

CaPRI | 2015-09-07 00:00:00

In 2012/2013, the Jamaican government sought access to a four-year Extended Loan Arrangement in an amount of SDR 615.38 million from the International Monetary Fund (IMF) to address worsening economic conditions and avert impending crisis. The government has begun to implement the required structural adjustments; however, the capacity of civil society to engage with the process is severely limited.

As a result, the Caribbean Policy Research Institute (CaPRI) and the University of the West Indies in partnership with the United States Agency for International Development (USAID) is pleased to announce the launch of the project “Monitoring Fiscal Responsibility”, which aims to fill this gap by providing evidence-based analysis of the government’s performance vis-à-vis its IMF commitments, and importantly, recommendations for effective policy and decision-making by GoJ, civil society and international development partners (IDPs).

• Objective 1: Monitor government decisions, budgets and policies for adherence to principles of fiscal prudence and good governance, and provide policy recommendations to support these aims.
• Objective 2: Monitor GoJ adherence to agreed fiscal reforms and strategies post-IMF Agreement to inform policy, facilitate civil society oversight and support good governance.

The project will last for 1 year (2015-2016) and monitoring and research activities will be conducted on an ongoing basis during the twelve month period.

The first meeting with the IMF team was held on August 18, 2015 at the Faculty of Law, UWI Mona under the theme “Medium Term Update on the IMF Programme”. The Minister of Finance along with the Resident IMF Resident Representative, the Governor of the Bank of Jamaica and Co-Chair of the Economic Programme Oversight Committee (EPOC) addressed the meeting. Approximately seventy eight individuals from the private and public sector were present.

CaPRI will produce an “IMF Tracker” in the next issue of its quarterly publication “Think Tank” which will be launched at the end of September.

Posted By :Laura Levy

Company Name : CaPRI

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