PM says Jamaica Remains in Good Shape

Prime Minister, the Most Hon. Andrew Holness, says Jamaica remains in good shape, based on notable economic out-turns and indicators that continue to emerge.

“News about our performance is not superficial; profound changes are taking place in our economy,” the Prime Minister said.

He was delivering the keynote address at the opening ceremony for the Jamaica Stock Exchange (JSE) 14th Regional Investments and Capital Markets Conference at The Jamaica Pegasus hotel in New Kingston on Tuesday (January 22).

Mr. Holness said among the notable indicators and out-turns are record high employment and low unemployment; robust net international reserves; a flexible foreign exchange rate; low inflation; ongoing debt reduction, forecast to fall below 100 per cent by the end of the 2018/19 fiscal year; and a stock market recognised as top-performing globally in 2018.

“There is no question about the economic performance of the country. It is our collective sacrifice that has achieved this. So, it is very good that we are being recognised for taking the right economic decisions that are yielding the right economic results,” the Prime Minister stated.

Meanwhile, Managing Director and Head of Emerging Markets, Fixed Income and Wealth Management at American investment bank, Jefferies Group LLC, Gregory Fisher, lauded the Administration for the steps taken that are expected to reduce Jamaica’s debt to GDP to under 100 per cent by March.

Mr. Fisher said the out-turns suggest that Jamaica is on a solid upward trajectory, for which the Administration should be commended.

“When lessons have been learnt, good things usually follow. I think that with all of the austerity that this country has gone through… those lessons have been learnt,” he added.

The JSE conference, which ends today (January 24), is being held under the theme, ‘Expanding Our Borders: Securing our Future’.