IMF downgrades Jamaica’s 2027 economic growth forecast to 2.4%

October 21, 2026

The International Monetary Fund (IMF) has lowered its forecast for Jamaica’s economic growth in 2027.

In its October World Economic Outlook, the IMF reduced its growth projection for 2027 to 2.4 per cent, down from the 3.1 per cent forecast made in April.

Meanwhile, the IMF has revised its projection for Jamaica’s real Gross Domestic Product in 2026 to zero per cent growth, up from a previous forecast of 1.2 per cent contraction.

Jamaica’s projected growth rate of 2.4 per cent for 2027 is slightly below the 2.5 per cent forecast for Latin America and the Caribbean.

According to the report, Small Island Developing States face a slower growth outlook, amidst rising energy costs, weaker tourism and lower remittance inflows.