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Jamaica - Country assistance note (Inglês)

Jamaica has had negative per capita gross domestic product growth for much of the last quarter of a century, despite active involvement of the Bank. Three structural adjustment and five sectoral adjustment loans since 1981, accompanied by a series of International Monetary Fund operations, have increased Jamaica's debt burden and left the country no better off in terms of growth or poverty reduction. Investment lending in this environment has also had a lower than average success rate. Unrealistic assessment of the Government's commitment to the vision articulated by the Bretton Woods agencies; overeagerness to lend; weak appreciation of social and governance constraints; and readiness to ignore implementation risks and underestimation of the economic impact of depressed markets for Jamaica's exports underlie the Bank's failure to promote a strong economic framework. Taken as a whole, the Bank's assistance strategy has had an unsatisfactory outcome, and Bank and Borrower performance have also been unsatisfactory. The future dialogue and lending program should focus on supporting measures to promote macroeconomic and financial stability; building government capacity and commitment, with monitorable indicators of progress; strengthening of institutional and human resources; and enhanced monitoring of the social impact of adjustment. The efficacy of such an agenda depends on restoring trust and effective communication between Jamaica and the Bank.

Detalhes

  • Data do documento

    1998/12/21

  • TIpo de documento

    IEG Evaluation

  • No. do relatório

    19356

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Jamaica,

  • Região

    América Latina e Caribe,

  • Data de divulgação

    2010/07/01

  • Disclosure Status

    Disclosed

  • Nome do documento

    Jamaica - Country assistance note

  • Palavras-chave

    learning and innovation loan;Annual Review of Development;economic and sector work;Financial Sector;external current account deficit;water supply and sanitation;real effective exchange rate;debt outstanding and disbursed;access to safe water;ownership of bank;sectoral adjustment loan;structural adjustment loan;balance of payment;reduction in poverty;student loan program;structural adjustment program;Foreign Exchange Reserve;public wage bill;public sector reform;per capita basis;population per physician;nominal exchange rate;consumer price index;high oil price;expenditures on wages;domestic financial institution;human resource management;road and bridges;project cycle management;nominal lending rate;Oil & Gas;flow of resource;efficiency and viability;provision of infrastructure;import license system;environmentally sound development;Social Impact Analysis;annual inflation rate;secondary school enrollment;social investment fund;foreign capital inflow;international capital market;Financing of Education;country assistance strategy;human resource development;types of loan;economic policy reform;performance budgeting system;environmental action plan;abolition of slavery;Country Assistance Strategies;per capita recipient;development of information;export development fund;natural population increase;benefits of integration;external public debt;delivery of health;public sector deficit;international financial institution;short term goal;social welfare program;personnel management system;financial sector crisis;standard of living;Social Safety Nets;human resource policies;human resource policy;financial sector strategy;civil society support;macroeconomic policy issue;market for sugar;debt service payment;competition from imports;public transport reform;Population and Health;privatization of power;primary health care;domestic financial stability;Oil and Gas;power generation sector;lack of supply;public sector investment;condition for adjustment;adjustment lending;government revenue;social consensus;Macroeconomic Stability;poverty issue;Tax Administration;domestic capacity;adaptable lending;wage increase;net transfer;investment lending;counterpart fund;wage setting;public expenditure;average cost;tranche release;cash reserve;monopoly power;debt rescheduling;stamp duty;Banking Supervision;social infrastructure;tax system;relative price;government ownership;macroeconomic framework;free market;project lending;existing capacity;living standard;borrower performance;participatory approach;disbursement delay;financial resource;Capital Inflows;Energy Sector;small farmer;fiscal deficit;agricultural sector;budget deficit;political party;joint mission;private investment;donor community;political parties;performance rating;Exchange Rates;institutional strengthening;agricultural production;import substitute;open economy;vicious cycle;homicide rate;social capital;consensus building;world demand;marginal land;lending strategy;labor mobility;export crop;fiscal account;jamaican dollar;management problems;Macroeconomic Management;bilateral aid;cement manufacturing;stabilization program;fiscal austerity;comparator country;high debt;casual worker;investment sector;social condition;unemployment increase;reduce trade;regional market;factor endowment;total output;state control;world output;adjustment process;budgetary performance;government response;Donor Contribution;special interest;tariff reform;financial transfer;market-oriented reforms;donor support;improved resource;low-income student;poverty alleviation;urban poor;social indicator;middle class;statutory bodies;Urban Violence;satisfactory rating;effective monitoring;local infrastructure;monetary authority;statistical table;institution building;absorptive capacity;public servant;mixed farming;generating growth;capital flow;slave labor;public entity;sugar plantation;support measure;rural area;import regime;financial crisis;monetary policy;adjustment effort;sugar mill;limited goal;welfare implication

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