‘5% Growth in 4yrs is Achievable’ – IMF

IMF Mission Chief to Jamaica, Dr. Uma Ramakrishnan, says the island can achieve the target of 5-percent economic growth in 4 years, if the recommendations by the Economic Growth Council, EGC, are implemented.

This, despite the IMF’s own projections that the country’s medium-term growth will be less than 3-percent.

Dr. Ramakrishnan says growth can be higher.

Dr. Ramakrishnan says if the 5-in-4 goal is met, the IMF would be able to reduce Jamaica’s high primary surplus target, set at 7-percent.

The primary surplus is the income the government has to set aside after paying all its bills, in order to pay down its debt.

Seven percent is considered a very high target.

Dr. Uma Ramakrishnan was speaking with local journalists at the IMF’s office at the Bank of Jamaica, via video conference from Washington DC yesterday.