IMF says Jamaica should speed up reconstruction, could cut debt faster

The International Monetary Fund (IMF) has said Jamaica should accelerate reconstruction following Hurricane Melissa and could reduce its debt faster once the recovery takes hold.

“The priority now is to advance reconstruction while preserving macroeconomic stability and deepening reforms, considering the more challenging external environment,” said IMF mission chief W. Raphael Lam in a statement released on Wednesday.

Full coverageJamaicans Press Government Over Slow Hurricane Melissa Recovery One Year On26 reports

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“Delays in both reconstruction and restoration of tourism capacity would also weaken the recovery,” the IMF warned, adding that “risks to the growth outlook are tilted to the downside, while inflation risks remain on the upside”.