Bert Van Selm, IMF Senior Resident Representative in Jamaica - file photo
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Jamaica's massive public debt remains a major area of concern for the International Monetary Fund (IMF).
Data from the country's Finance Ministry show the national debt has doubled in the last six years to two trillion dollars.
Dr. Bert Van Selm, the IMF's Senior Resident Representative in Jamaica, believes the figure is significantly higher than what would be considered acceptable.
Dr. Van Selm, speaking on Thursday evening at a function put on by the Manchester Business School, cautioned that, while some economic indicators are improving, the country remains vulnerable: "Debt is still very high, unemployment is still way too high."
He noted that growth is improving, and, at 1.8%, is a positive sign for Jamaica, which, historically, has had low levels of growth; "but in the global context... it's below the average growth of the world."
As a consequence, he said, Jamaica still needs to make its business climate "more attractive (and) easier to do business," in order to achieve its full potential.
Dr. Van Selm, speaking on Thursday evening at a function put on by the Manchester Business School, cautioned that, while some economic indicators are improving, the country remains vulnerable: "Debt is still very high, unemployment is still way too high."
He noted that growth is improving, and, at 1.8%, is a positive sign for Jamaica, which, historically, has had low levels of growth; "but in the global context... it's below the average growth of the world."
As a consequence, he said, Jamaica still needs to make its business climate "more attractive (and) easier to do business," in order to achieve its full potential.
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