MoU signed to extend EPOC’S monitoring of the Economic Reform Programme

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The Government has signed a Memorandum of Understanding (MoU) with the Economic Programme Oversight Committee (EPOC) to extend domestic monitoring of Jamaica’s economic reform programme (ERP) beyond the end of the Precautionary Stand-By Arrangement with the International Monetary Fund (IMF).

The MoU was signed today by Minister of Finance and the Public Service, Dr. Nigel Clarke; Chairman of EPOC, Keith Duncan; Governor of the Bank of Jamaica, Richard Byles, and other representatives of the Committee at the Ministry, National Heroes Circle.

In his remarks, Dr. Clarke said the Government is far advanced in enacting legislation to modernise the Bank of Jamaica, inclusive of institutionalising independence in the implementation of monetary policy.