Don’t Panic (no exchange controls); Recession Deepens

Jamaica Observer: “The Jamaican Government is not planning to impose exchange control”
In a research reported dated February 10, JP Morgan research analyst Neeraj Arora reported that “The Government is now reportedly mulling the possibility of imposing capital controls to check the Jamaican dollars slide”.

Jamaica Observer: “Recession Deepens”
The consolation for a recession is that it is a natural part of an economic cycle – things boom, then they bust, and then they boom again. But when will Jamaica’s cycle go full circle? The economy seems to be stuck in the “bust” phase.

BEIJING (AP): “China promises to keep exchange rate steady”
China promised Wednesday to keep its exchange rate stable and said it would use part of its $1.95 trillion in foreign currency reserves to boost imports and consumer spending to combat the global financial crisis.