Category: Top stories: Local

Jamaican Economy Still Developing
Jamaica Gleaner: AS WE approach Emancipation Day and Independence Day, we all must agree that despite the challenges we face, Jamaica has achieved a lot.

IMF Deal Approved

Finance Minister, Dr Peter Phillips, announced a short while ago that Jamaica’s application for a four-year Extended Fund Facility with the International Monetary Fund (IMF) has been approved in the amount of SDR615.4 million or approximately US$932.3 million.

IMF Says JMD More Competitive After Depreciation

The value of the Jamaican currency has fallen by more than seven dollars year to date. This will help stimulate exports and regain lost competitiveness, International Monetary Fund (IMF) director Gian Maria Miles-Ferretti argued last week.

Debt target pushed back by dollar slide

JAMAICA’S public debt stood at $1.81 trillion (134.1 per cent of GDP) at the end of March. It increased from $1.66 trillion (131.5 per cent of GDP) a year before, due largely to financing of the fiscal deficit, which totalled over $72 billion. But 46 per cent of the increase in the debt was due to the depreciation of the Jamaica dollar.