IMF lauds gov't for creating measures to bolster economic gains

Dr. Constant Lonkeng Ngouana, International Monetary Fund (IMF) Resident Representative to Jamaica, is lauding the Government for initiating measures to preserve and bolster the economic gains Jamaica has recorded over the last six years.
He noted that these have been achieved under the Economic Reform Programme.
Dr. Lonkeng Ngouana said these safeguards are imperative in facilitating Jamaica's exit from the IMF's financial support in November.
They include the bill currently before Parliament, seeking to make the Bank of Jamaica independent and refocusing its mandate on price stability.
He also pointed to the proposed Fiscal Council that will serve as the post-IMF era guardian of the country's fiscal responsibility law.
It stipulates that the debt to gross domestic product ratio should be no higher than 60 per cent by the 2025/26 fiscal year.

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