The Jamaica dollar has now collapsed passed the US$1 : J$100.
The $100.00 barrier has now be broken and free fall to $150: 1 is now a reality.
What a great job by the PNP, they have presided over the destruction of everything that can be destroyed in Jamaica.
It’s no defence of the PNP’s performance whether it was the JLP or PNP who did a better job of defending our currency, but the PNP has outperformed the JLP in this regard if you compare the 2007-2011 and 2011-present terms.
In the approximately two years between when the JLP took office and when the currency stabilized about two months after receiving the IMF agreement, the current devalued by around 28% ($69 to $89).
In the approximately two years between when the PNP took office and today the currency has devalued by around 16% ($86 to $100).
That’s quite a difference. Of course the dollar did eventually stabilize under the JLP so this situation could look very different in a few months if our dollar continues to depreciate.