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Fiscal Consolidation Program II
The objective of the operation is to bring the country budget support trough the emergency facility, to support the country's efforts in the correction of fiscal imbalances and public debt reduction.

Project Detail

Country

Jamaica

Project Number

JA-L1034

Approval Date

December 15, 2010

Project Status

Closed

Project Type

Loan Operation

Sector

REFORM / MODERNIZATION OF THE STATE

Subsector

FISCAL POLICY FOR SUSTAINABILITY AND GROWTH

Lending Instrument

Préstamo de Apoyo a Reformas de Política

Lending Instrument Code

PBL

Modality

PBP (Programmatic Policy Base Loan)

Facility Type

-

Environmental Classification

Uncategorized Directive B.13

Total Cost

USD 200,000,000.00

Country Counterpart Financing

USD 0.00

Original Amount Approved

USD 200,000,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
2502/OC-JA Sovereign Guaranteed USD - United States Dollar Ordinary Capital Single Currency Facility
Operation Number 2502/OC-JA
  • Lending Type: Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Ordinary Capital
  • Financial Instrument: Single Currency Facility

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Other Documents
https://www.iadb.org/document.cfm?id=EZSHARE-1694580100-154
Fiscal Consolidation Program (JA-L1032; JA-L1034; JA-T1066) [38968447].PDF
Published Feb. 21, 2016
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Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-758850226-86
JAMAICA_ Fiscal Consolidation Program II (JA-L1034) [35594266].PDF
Published Dec. 31, 1999
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https://www.iadb.org/document.cfm?id=EZSHARE-758850226-87
JAMAICA_ Programa de Consolidación Fiscal II (JA-L1034) [35594277].PDF
Published Dec. 31, 1999
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https://www.iadb.org/document.cfm?id=EZSHARE-2056220512-7518
Contract - Fiscal Consolidation Programme II.pdf
Published Apr. 02, 2020
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Closed Phase
https://www.iadb.org/document.cfm?id=EZSHARE-14364742-1
JA-L1032_JA-L1034_JA-T1066 Fiscal Consolidation Program PCR.pdf
Published Jan. 22, 2020
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Publications
Published 2022
Alcohol, Drug Use, and Road Traffic Injuries: A Multi-site Collaborative Study of Emergency Departments in the Dominican Republic and Peru
The objectives of this study are to report demographic and substanceuse characteristics and risk of road traffic injury from alcohol use, cannabis use, and combined use in a sample of emergency department patients from two countries in Latin America and the Caribbean: the Dominican Republic and Peru.
Datasets
Published 2022
Standardized Public Debt Database
This database compiles up-to-date standardized statistics on sovereign debt issuances for the LAC region and contains bi-annual data starting in 2006 through to 2021. Sovereign Debt Data is classified by legislation, creditor, currency and maturity amongst others for 26 countries. The availability of valid, comparable, and standardized public debt data is essential for the implementation of sound policies in Latin America and the Caribbean (LAC). This is why at the core of the LAC Debt Group initiative is the development of a standardized sovereign debt database to help debt managers, policy makers, and other actors of financial markets analyze the evolution and composition of public debt in LAC and conduct cross-country comparisons. The information of this database is provided by the public debt offices of LAC countries in response to a questionnaire specifically designed to allow comparability of data. The questionnaire, whose response is non-compulsory, is intended to compile up-to-date standardized statistics for objective and homogeneous definitions of public debt.<br><br><b>Click here to access the data: https://mydata.iadb.org/idb/dataset/3bvi-edbq</b></br></br>
Publications
Published 2021
Domestic Violence Reporting during the COVID-19 Pandemic: Evidence from Latin America
This article examines changes in the frequency and characteristics of domestic violence reports after the start of the pandemic and the imposition of mobility restrictions in six Latin American countries. The study uses three types of data sources: calls to domestic violence hotlines (for the City of Buenos Aires in Argentina, Colombia, and Peru); calls to emergency lines (for Ecuador, Lima in Peru, and Costa Rica); and police/legal complaints (for Colombia, Ecuador, and Uruguay). Data through June 2020 shows that the pandemic's impact on domestic violence reports varied significantly across countries, periods, types of violence, and reporting channels. Calls to domestic violence hotlines soared, but calls to emergency lines and police complaints fell (especially in the first weeks of the pandemic). Significantly distinct patterns are observed between reports of psychological and physical violence, and non-cohabitant and cohabitant violence. These patterns are consistent with the pandemic changing the relative incidence of different types of violence and altering the perceived costs of reporting them through alternative channels. Increases in calls to domestic violence hotlines suggest that this channel was best suited to respond to victims' needs during the pandemic. In turn, the drop in legal complaints and calls to comprehensive emergency lines are consistent with an increase in the perceived (relative) cost of using these channels. The findings reveal how the pandemic altered domestic violence victims' demand for institutional help and highlight the relevance of domestic violence hotlines as an accessible and valuable service.
Publications
Published 2022
Inter-American Development Bank Quarterly Business Review: First Quarter 2022
The 2022 first quarter edition of the Quarterly Business Review (QBR) provides management with a status of the Bank's performance. The QBR reports on outputs, lending program priorities and organizational indicators on a quarterly basis to allow management to monitor progress in achieving corporate results. This periodic monitoring supports evidence-based decision making and allows for timely identification of deviations from targets and enables effective implementation of measures to address them. The Quarterly Business Review (QBR) provides an overview of the IDB's performance on sovereign-guaranteed outputs and lending program priorities. The QBR identifies trend deviations from IDB portfolio targets to support Bank management efforts to identify and implement corrective measures. This edition compiles data for the first quarter of 2022.
Publications
Published 2022
How to Repay the After-COVID-19 Public Debt?: The Case of Colombia
The COVID-19 pandemic produced a shock to public finances throughout the world. In the case of Colombia, the public debt to GDP ratio increased from 39.8% to 65.0%. We use a two-country neoclassical general equilibrium model to determine which one-shot tax reforms make the new debt level sustainable. Our analysis shows that Colombia was on the wrong side of the Laffer curve for capital and labor income taxes before the crisis and hence would need to reduce those taxes to repay its current debt. Specifically, reducing the capital tax by four percentage points and the labor tax by three percentage points restores sustainability. In contrast, the analysis suggests that the economy is on the upward-sloping side of the Laffer curve for the consumption tax. An increase of 10 percentage points in the consumption tax generates a future path of primary surpluses big enough to repay the post-COVID level of debt. The results suggest that behavioral changes and general equilibrium effects are sizeable. Therefore, ignoring them will bias fiscal consolidation analysis.
Publications
Published 2021
Electrokit: Power Utility Toolkit-The Overview: Best Practices in Electric Power Distribution Companies in the Latin America and Caribbean Region
The Electrokit is an initiative created by the IDB to strengthen transformation and continuous improvement of electric utilities in the LAC region. It follows international standards that characterize and evaluate utilities based on indicators and best practices. The Electrokit is organized in 16 activities that are common to most electricity utilities. The aim of the toolkit is to provide power utilities, policy and decision-makers access to best practices, current trends, and expertise to: (i) identify challenges, develop a strategy and action plan for addressing them; and (ii) support utilities to be more sustainable, efficient, improve customer experience and accelerate innovation to stay ahead of the rapidly sector transformation. The Overview presents the main objectives of the toolkit, the structure of its areas and activities, and a guide on how companies could design an action plan.
Publications
Published 2021
Inter-American Development Bank Annual Business Review 2020
The 2020 Annual Business Review (ABR) provides an overview of the IDB's performance on sovereign-guaranteed outputs and lending program priorities. The ABR identifies trend deviations from IDB portfolio targets to support Bank managements efforts to identify and implement corrective measures. This edition compiles data for all quarters in 2020.
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