Minister of Finance and the Public Service Dr Nigel Clarke in an addres to Parliament (Photo: Garfield Robinson)
Jamaica’s finance minister, Dr Nigel Clarke, was featured yesterday on the Bloomberg Television production, Bloomberg Markets: The Close. Clarke was interviewed by the show’s co-hosts Caroline Hyde and Scarlet Fu on matters related to Jamaica’s monetary policy, economic growth, and the central bank’s use of reggae to communicate with the public.
The interviewers listed Jamaica’s latest economic achievements — including the upgrading of the country’s debt ratings by Fitch, reduction in the debt load, revitalisation of mining, the world’s best-performing stock market, and the squaring of finances.
Clarke emphasised the importance of reforms in realising the progress that has taken place so far.
“Jamaica has had a tremendous performance over the last several years with a restoration of macroeconomic stability,” the minister stated. “We have had 16 consecutive quarters of economic growth, and we have been engaging in a series of structural reforms, fiscal, monetary, and a number of other reforms to restore the economy’s health — and the results have been getting attention around the world.”
Caroline Hyde noted that Fitch projects Jamaica’s growth at two per cent for the next couple of years, but Prime Minister Andrew Holness is targeting four per cent.
“How is that to be achieved?” she asked. “Why is it not yet achieved?”
Clarke responded by giving some background information on Jamaica’s economic growth from the past to the present time.
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