NEWS

IMF — Reduce Crime And Boost Trade For Economic Growth In The Region

According to press reports, IMF Deputy Division Chief in charge of the Western Hemisphere, Anna Ivanova, said strengthening trade and reducing crime could spur economic growth in the region.

“The region could really boost growth in terms of increasing trade. Both within the partners in Latin America and the Caribbean and with the countries outside of the region. So that is a very important factor that we believe,” said the IMF representative. 

She added, “The second one is reducing crime. We think that this is a big sort of weight on growth in the countries through both lower productivity growth and lower capital accumulation. So, reducing crime could help spur growth in these countries. And finally, we think that this growth has to be balanced and it has to be equitable.” said the IMF representative.”

Economies in Latin America and the Caribbean are projected to realize growth over the next two years.

The rates have returned to percentages seen before the COVID-19 pandemic, but the pace is considered slow.

Jamaica’s GDP outturn is set for two percent this year, and the forward projections suggest a similar outlook for the years to come.

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Readers Bureau, Contributor

 Edited by Jesus Chan

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