PEFA repeated assessment

Jamaica's economy is extremely vulnerable to external shocks because of a number of factors including its high public debt, its dependency on international capital markets and other foreign account flows and some structural sector weaknesses. Despite the significant challenges, the Jamaican Government managed to implement significant measures of macroeconomic stability and economic governance. The EU has consistently supported these policies with its budget support programmes and as part of the policy dialogue with the government. Reforms undertaken in order to improve Public Finance Management (PFM) in Jamaica are embedded in the Public Sector Modernisation Programme (PSMP) 2002-2012. The Government of Jamaica (GoJ) undertook its first Public Expenditure and Financial Accountability (PEFA) assessment exercise sponsored by the European Commission (EC) in mid 2007. It periodically produced a report of PFM achievements in the implementation of the PSMP and in other relevant areas that were not covered by the strategy. The main objective of the present assessment was to undertake a comprehensive assessment of public financial management in Jamaica – using the PEFA methodology and including taking stock of the progress made in the PFM reform process since the previous 2007 PEFA exercise – in order to assist the GoJ in determining its most urgent PFM priorities. ADE’s aimed to perform a repeat PEFA assessment of Jamaica by: 1) Updating the overview of PFM performance in accordance with the PEFA Performance Measurement Framework. 2) The level of change in performance based on the PEFA indicators scores by comparison to the 2007 results.


Project Details
Country JAMAICA
Start date 1.05.2012
End date 13.03.2013
Client EC
Sector MACRO/PUBLIC FINANCE MANAGMENT
Sub-sector PEFA
Ref. ADE A422-220