Oct 2014 Financial News

Jamaican gov't performing miracle with economy says IMF

Oct 23, 2014

ST JAMES, Jamaica (JIS) – Deputy Managing Director of the International Monetary Fund (IMF) Min Zhu, says Jamaica’s achievements so far under the stand-by agreement with the Fund can only be described as miraculous.

Addressing students at the Montego Bay Community College in St James after a tour of the facilities on October 22, Zhu said because of the financial “miracle” that the Government has performed the local economy is turning in a positive direction.

“By our forecast, the growth this year will be stronger than last year and even more important, for next year the growth will be stronger than this year. Meanwhile, the fiscal deficit will drop to almost zero…so I think it’s absolutely a miracle. It’s a great achievement by the Jamaican Government,” he said.

Zhu, who is in Jamaica attending the 2014 High Level Caribbean Financial Forum at the Montego Bay Convention Centre in Rose Hall, St James from October 23 to 24, said the IMF is committed to moving forward with Jamaica.

“For the future, the key issue is we need the support of growth…we need the young people, we need the leaders of the future,” he told the students.

Source:
Jamaica Observer
Thursday October 23, 2014    

http://www.jamaicaobserver.com/latestnews/Gov-t-performs-miracle-with-economy-says-IMF