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Analyst: IMF deal critical to boosting sectors
2012-12-26 12:51:54 | (0 Comments)
Financial analyst John Jackson says key sectors of the economy are doing well although a deal with the International Monetary Fund (IMF) will be critical to improving investor confidence and boosting performance in the New Year.
Jamaicans in downtown Kingston shopping. Many Jamaicans have kept one eye on the IMF deal during their Christmas shopping- file photo
Investor confidence has continued to wane amid expectations that the Jamaican Government will not sign a stand-by agreement with the IMF by December 31.
The Jamaican dollar has also continued to lose value against other currencies in the absence of an agreement.
Jackson says the IMF deal will be critical to maintaining growth in the central sectors such as tourism and building assurance, but the sector still expected to perform well.
According to Jackson the area of challenge for the Government is to improve the country’s balance of payment, which has not been easy for Government or the previous administration.
He warns that Jamaicans may not find some of terms of the agreement pleasant.
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Source: The Gleaner/Power 106 News
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