After six years of painful fiscal discipline, Jamaica’s economic scorecard is showing genuine human progress — unemployment and poverty have reached multi-year lows not seen since before the crisis era. Yet the IMF’s fourth review of Jamaica’s Stand-By Arrangement delivers an uncomfortable verdict: macroeconomic stability has not yet translated into the growth that would make those gains permanent. Without a decisive response to the structural barriers holding back private investment, the hard-won results of the reform programme may prove more fragile than the headline numbers suggest.

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