Jamaica gets some future insurance with new IMF Standby Arrangement 

The IMF Executive Board approved an SDR 1.7billion arrangement for Jamaica to continue its support of economic policies. The documents were published yesterday and can be read, at leisure 😊

Apart from outlining the main policy objectives, the report gives useful pointers about financial markets that explain some of the reasons why my knees don’t tremble with every blip of the exchange rate–thin markets, and no real interbank operations–and about weak monetary transmission. 

Anyway, bravo, Jamaica, for getting an early Christmas present…of a sort.