PM Simpson Miller Thanks Members of the US Congress For Supporting Jamaica’s IMF Programme

Prime Minister, the Most Hon. Portia Simpson Miller has thanked members of the Congressional Black Caucus (CBC) in the United States House of Representatives for their relentless and critical support when Jamaica sought to secure funding under an agreement with the International Monetary Fund (IMF) in 2012. Noting that the country was now focused on achieving higher levels of growth and job creation under the IMF-supported economic reform programme, she enlisted the help of the CBC in encouraging more US investors to invest in Jamaica.

“Your support to the Government and people of Jamaica has spanned a long time and extends over a range of issues, causes and interests,” the Prime Minister said as she addressed member of the CBC, other leaders in Congress and the officials of the IMF and the US Department of State at Capitol Hill, in Washington D.C., on Monday, January 26.

Noting that their confidence and support were well placed, Prime Minister Simpson Miller said since assuming office three years ago, the Government had embarked on an economic growth agenda anchored in a sustainable debt reduction plan.

“We remain steadfast in our commitment to the reform programme for the benefit of all Jamaicans and we continue to be grateful for the critical support of the IMF and other multilaterals for the programme,” she added.

Prime Minister Simpson Miller said she was proud to report that the country was consistently meeting the targets agreed with the IMF and had so far passed all of the six quarterly reviews by the Fund. She also noted that the visit during 2014 of the heads of both the IMF and the Inter-American Development Bank, signalled the international community’s respect and growing support for Jamaica’s discipline and success in implementing the painful but necessary economic reforms.

“We are making steady progress, but we are not yet at the economic and social destination where we want to be,” the Prime Minister pointed out, adding that the people of Jamaica have made many sacrifices in the national interest, and that the country’s success under the economic reform programme was in large measure due to the support of the Jamaican people.

Noting that Jamaica was attracting major investments from as far as China, she said the conditions were being created for American investors to take up opportunities in the country.

“The Government commits to developing and implementing the right mix of policies to create the environment for business and commerce to flourish,” the Prime Minister highlighted.

Opportunities for investment, she said, existed in many areas such as physical and economic infrastructure, including the further privatization and expansion of sea and air ports. She added that the Government would continue to support private capital investments for more hotel and other construction activities.

The Prime Minister added that the start-up and conversion of more efficient, less expensive energy production plants to boost growth potential and jobs, was high on the national agenda and was an area ripe for US investments, such as the recently announced injection of US$90 from the United States Overseas Private Investment Corporation for a clean energy wind project being undertaken in Jamaica.  The project, Blue Mountain Renewables, will see a 34 megawatt wind facility built and operated in Jamaica by BMR Limited with construction set to start in June this year.

Prime Minister Simpson Miller’s visit to Congress followed her participation at the Caribbean Energy Security Summit at the State Department in Washington DC, chaired by the US Vice President Joseph Biden.