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History Made? The Precautionary Stand-By Agreement (PSBA)

In: Jamaica’s Evolving Relationship with the IMF

Author

Listed:
  • Christine Clarke

    (University of the West Indies)

  • Carol Nelson

    (University of the West Indies)

Abstract

Many Jamaicans would not have any memory an experience of successful completion of an agreement with the International Monetary Fund that was followed by another agreement. The last memory of a completed agreement was the declaration of ta-taa as Jamaica determined it could navigate and perhaps conquer the international capital markets. The announcement that Jamaica would proceed to another Stand-By Agreement was welcomed as many were not convinced that the authorities would be able to maintain the constraints imposed under the IMF-supported programme. Nevertheless, the animal of the Precautionary Stand-By Agreement selected by the Jamaican authorities would have been an unknown quantity. This chapter decomposes the experience of other countries with a PSBA and presents an analysis of the Jamaican experience under this agreement.

Suggested Citation

  • Christine Clarke & Carol Nelson, 2021. "History Made? The Precautionary Stand-By Agreement (PSBA)," Springer Books, in: Jamaica’s Evolving Relationship with the IMF, chapter 0, pages 235-266, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-59204-2_9
    DOI: 10.1007/978-3-030-59204-2_9
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