JIS News

Story Highlights

  • The work being done by staff at the embassy in Washington, D.C., to represent Jamaica in the United States (US), has come in for high praise from Minister of Finance and Planning.
  • Dr. Phillips, who met with members of the embassy on October 11, told them that their work to promote Jamaica’s interest in the United States is worthy of the highest praise.
  • "We are indebted to you all for what you do for the country and people of Jamaica,”

WASHINGTON, D.C.- The work being done by staff at the embassy in Washington, D.C., to represent Jamaica in the United States (US), has come in for high praise from Minister of Finance and Planning, Dr. the Hon. Peter Phillips.

Dr. Phillips, who met with members of the embassy on October 11, told them that their work to promote Jamaica’s interest in the United States at the diplomatic level and among the Diaspora, is worthy of the highest praise.

“I don’t think the people at home understand how well we are served by the efforts and sacrifices of those who serve the country in our overseas missions. We are indebted to you all for what you do for the country and people of Jamaica,” he said.

The Minister, in updating staff on the status of Jamaica’s economy, said that “there is no way the country can continue with the level of debt we have, and all efforts are being made through the present reform programme to reduce the level of debt and to move forward towards a path of growth.”

 

He emphasized that for the value of the Jamaican currency to regain its competitiveness, the country will need to contain expenditure, adding that the county currently imports the vast majority of the products used, which require foreign exchange to pay for them.

The Minister said the county is therefore positioning itself to reduce imports and increase exports.

Dr. Phillips reiterated the Government’s position that the country needs to continue with its current strategy towards economic recovery.  “We cannot turn back, we have to continue on this path. What we want more than anything else is to create the conditions and secure the investments that support the pathway towards growth. This is the soundest solution to our long-term problem,” he said.

The Minister was in Washington attending the annual meeting of the International Monetary Fund (IMF) and World Bank, as well as the Commonwealth Finance Ministers meeting. He was accompanied by  Director General of the Planning Institute of Jamaica (PIOJ), Colin Bullock;  Governor of the Bank of Jamaica (BOJ), Brian Wynter; Financial Secretary, Devon Rowe and Technical Advisor to the Minister, Helen McIntosh.