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JAMAICA COUNTRY STRATEGY UPDATE 1.
Period of coverage The Country Strategy with Jamaica covered the period 2006-2009 (document GN-2422-1). However, the revival of Jamaica's reform program, natural disasters, and adverse changes in the economic outlook prompted a Country Program Update (document GN-2442-3) in November 2008. A new Country Strategy with Jamaica is currently being prepared and will be presented to the Programming Committee in September 2010 for consideration. The present CS Update covers the period January 2010 to September 2010.
2.
Approvals during the effective period of the CS Update and their consistency with the areas of the CS The three priority areas under the Country Strategy were: (i) promoting and facilitating private sector development; (ii) getting better value for public expenditures (quality-price ratio); and (iii) reducing vulnerability to natural disasters. All the operations approved during the effective period of the CS Update were consistent with the areas of the CS. See breakdown in Annex I.3.
3.
New sector and rationale Public finances: The authorities requested a Fiscal Emergency Program from the Bank. This program will help the government in its efforts to strengthen public finances and preserve the priorities of social spending programs benefiting lowincome families, through budget support financed with resources from the Emergency Loan from the Ordinary Capital.
4.
Financial scenario Subject to the financial capacity of the Bank, approvals of SG operations for 2010 are estimated at US$630 million. For the same period, approvals of NSG operations (loans and guarantees) are estimated at US$79 million, and nonreimbursable operations at approximately US$1.7 million.
5.
Country systems In 2005, the government, the World Bank, and the IDB agreed on the principal areas of the country fiduciary systems for financial control and hiring procedures that needed to be strengthened so that at some point they could be considered for use in IDB-financed operations. After providing technical assistance through the Program to Implement the External Pillar of the Medium-term Action Plan for Development Effectiveness (PRODEV) and a policy-based loan, Public Financial and Performance Management Program II (IDB-Government of Jamaica, PBL JA-L1013), best practices were introduced, such as stronger regulatory agencies,