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Jamaica's economic performance "miraculous" says IMF

Featured Deputy Managing Director of the International Monetary Fund (IMF), Dr. Min Zhu Deputy Managing Director of the International Monetary Fund (IMF), Dr. Min Zhu
MONTEGO BAY, Jamaica Oct. 23, 2014 - Deputy Managing Director of the International Monetary Fund (IMF), Dr. Min Zhu, says Jamaica’s achievements so far under the extended fund facility agreement with the Fund can only be described as miraculous.

Addressing students at the Montego Bay Community College in St. James following a tour of the of the Montego Bay Freezone  on Wednesday, Mr. Min 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.

Dr. Min, 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 said.

The  Deputy Managing Director, Governor of the Bank of Jamaica (BOJ), Mr. Brian Wynter and other representatives of the IMF and the Finance Ministry toured the Electrical Technology and Food Technology departments of the Montego Bay Community College, where they observed final year students participating in laboratory activities.

Also in attendance were State Minister in the Ministry of Industry, Investment and Commerce, Hon. Sharon Ffolkes Abrahams; Mayor of Montego Bay, Councillor Glendon Harris; Principal of the Montego Bay Community College, Dr. Angella Samuels Harris and other members of the school’s academic staff.

Last modified onFriday, 24 October 2014 07:20

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