Jamaica Enjoys Macro Economic Stability Despite Major Challenges

According to Dr. Constant Lonkeng Ngouana, IMF Resident Representative to Jamaica, Jamaica has much to boast about economically despite some socio-economic vagaries that continue to plague the country.

jama mapSpeaking on TVJ’s morning program, Smile Jamaica, Dr. Ngouana said external shocks, weak global demand, and drought have negatively impacted the country’s economic performance.

He said that if some of these factors were discounted Jamaica would see healthier growth in its economy.

Additionally, Dr. Ngouana said when one looks across the board at key macroeconomic indicators such as inflation, current account, as well as deficit and debt which are trending lower than a few years ago, together, have put Jamaica in good stead.

He also listed the financial sector resilience as a factor of Jamaica’s economic gain.

Barbara Greene, Readers Bureau, Fellow

 Edited by Jesus Chan

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