IMF still expects 1.4% expansion

The International Monetary Fund (IMF) says it still expects the Jamaican economy to expand at a rate of 1.4 percent this year.

The latest outlook came from IMF Representative to Jamaica, Bert van Selm, as the entity revised its forecast for global growth.   

On Thursday the IMF said, it expects global growth to be 3.4 percent this year, which is down from the 3.7 percent it forecast in April. 

Growth for the region has also been revised downwards to 2 percent from 2 .5 percent.