The Bank of Jamaica cut rates again Thursday, a week behind its last adjustment, in a move designed to bring down the cost of funds for the Government, analysts said, but they also took it as further evidence of a new agreement on interest rate policy under the borrowing facility being negotiated by Government.
The Jamaican government’s decision to seek financial aid from the International Monetary Fund (IMF) has put into sharp focus the perilous state of the Jamaican economy and raises the question, where does the country go from here?
The governor of the Barbados Central Bank says the Caribbean island’s economy is in recession. But Prime Minister David Thompson said his country would not follow Jamaica’s lead and seek help from the International Monetary Fund. (IMF).
President Barack Obama said Wednesday he sees “the beginning of the end of the recession”, as economic indicators and comments from the Federal Reserve suggested stabilisation after a brutal slump.