The Inter-American Development Bank (IDB), in its latest assessment of the impacts of the COVID-19 pandemic, has said that shocks will have significant implications for Jamaica’s economic performance and growth prospects this year and beyond.

In a recent assessment undertaken by the IDB Caribbean Country Department, it was highlighted that the magnitude of the impact will depend on the duration of the pandemic, its spread, and the country’s prevention and response measures to contain the shock.

“It will also hinge on the structure of their economies and their exposure and vulnerability to global transmission channels such as commercial ties, integration into global value chains, role of the tourism sector, dependence on raw materials and financial integration, among others,” the report stated.

http://www.jamaicaobserver.com/business-observer/idb-projects-weakened-growth-prospects-for-2020-and-beyond-recovery-will-be-based-on-availability-of-fiscal-space-and-access-to-financing_193521