Searching for growth in Jamaica, now the Minister and the IMF have found it, really now ?

Jamaica is one of those countries, where great paradox seems to always exist, let’s look at growth in this case.

The Finance Minster, the PIOJ and the IMF all said the country has experience growth of 1.1% during the last quarter ending Dec 2013, which would appear to indicate things are beginning to turn around, but is it real?

Growth is said to have a lagging effect in that long after it has commenced is when you are expected to feel or see it

What is rather interesting however is once their is economic decline, it is felt immediately not much lag at all, no one has to tell you the economy is declining, you know it because you feel it. Not so with growth, you have to be told and long after being told you cannot seem to see or feel it, leading me to believe that growth in Jamaica is all pure statistics written on paper and which has no real meaning in terms of impact on our lives.

Growth has largely eluded Jamaica for the last 40yrs and I harbour very little hope that this administration under an IMF program can bring about any form of sustain growth in Jamaica.

 

 

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3 Responses

  1. Give credit where credit is due. They passed 3 IMF test and the economy is on a growth trajectory. With the JLP only one test was passed and they had negative growth.

    Give credit where it is due

    • Will do when I see progress . Fitch upgrades Jamaica , that is positive
      Sent from my BlackBerry® wireless device from LIME.

      • The budget shortfall is over 9 billion and that is expected when there is a contractionary IMF programme, the government will spend and borrow less. However, don’t be too happy about the growth, because there is a credit crunch in market as expected and businesses are closing down their operations. The government is implementing IMF policies but the growth policy lacks a framework. Don’t be fooled successful countries compare themselves with others who happen to be more successful than them, they have no joy in not being at the bottom of the barrel

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