Courtney Wynter, General Manager of Jamaica Mortgage Bank, has suggested that Jamaica could use housing developments to grow the economy.

According to Mr. Wynter, mortgages in Jamaica, as a percentage of gross domestic product, lag behind that of developed countries, highlighting the fact that there is also a huge gap between the demand for low income and middle income housing.

Mr. Wynter believes the answer lies in the use of residential mortgage-backed securities.

The Jamaica Mortgage Bank head said this would result in more liquidity for housing developments across the island, as well as create employment and growth in the economy.

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