JIS News

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  • Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, says Jamaica can expect a period of greater prosperity, having surpassed the more austere aspects of the International Monetary Fund (IMF) programme.
  • Mr. Byles, who is also President and Chief Executive Officer of Sagicor Group Ltd., speaking at the company’s Pension Investment Fund (PIF) seminar, at the Jamaica Conference Centre, today (March 14), said Jamaica’s economy has a positive outlook.
  • He pointed out that as the country’s debt continues to decrease, the Government will have more opportunity to invest in infrastructure and further advance economic growth.

Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, says Jamaica can expect a period of greater prosperity, having surpassed the more austere aspects of the International Monetary Fund (IMF) programme.

Mr. Byles, who is also President and Chief Executive Officer of Sagicor Group Ltd., speaking at the company’s Pension Investment Fund (PIF) seminar, at the Jamaica Conference Centre, today (March 14), said Jamaica’s economy has a positive outlook.

“The last three years was the period of the most difficult aspects of the IMF programme and what lies ahead is…a little bit more relaxation and positives to look forward to (as well as) increasing business confidence,” he said.

He pointed out that as the country’s debt continues to decrease, the Government will have more opportunity to invest in infrastructure and further advance economic growth.

“I feel that we are on the right track and do have good prospects ahead of us. What I see going forward is a period of increasing success, increasing growth and increasing prosperity,” Mr. Byles added.

The EPOC Co-Chair urged Jamaicans to embrace this possibility and the opportunities of success.

Mr. Byles explained that an improved current account deficit has served to strengthen the position of the country’s Net International Reserve (NIR) from US$800 million to approximately US$2.2 billion. He also highlighted the reduction in the food import bill, due to advances in domestic agriculture, and the decrease in inflation rate as positive signs.