IMF Representative Constant Lonkeng (left) in discussion with Sterling Asset Management President Charles Ross at Sterlings’s investor briefing last Wednesday.
“A ll the stars seem aligned for a sustained economic growth in Jamaica, building on the hard-won macroeconomic stability,” according to Constant Lonkeng Ngouana, resident representative of the International Monetary Fund for Jamaica.
“The world is looking at Jamaica,” Lonkeng said. “Jamaica is on the right trajectory.”
He was speaking on the issue of moving from macroeconomic stabilty to growth at a Sterling Asset Management investor briefing at the Spanish Court Hotel in New Kingston on Wednesday.
“Jamaica is not an Asian Tiger, but it has had sustained growth over the last eight or nine quarters,” Lonkeng said. With growth levels of around one per cent, it wouldn’t be easy to lift living standards, he said, “but it is positive”.
But the move to growth will not be left to government alone, Lonkeng said.
“Sustained economic growth and job creation will come from the private sector taking the lead in identifying opportunities and new markets in a competitive set-up that offers a well-balanced risk-return trade-off,” Lonkeng said.
Meanwhile, Lonnkeng noted that international ratings agency Moody’s recently said that it is interested in buying Jamaican bonds.
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