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.