Fri | Sep 22, 2017

Phillips urges more private sector investment

Published:Saturday | December 20, 2014 | 12:39 AM

KINGSTON, Jamaica:

Finance Minister, Dr Peter Phillips is repeating calls for the private sector to invest more in the Jamaican economy.




He says Jamaica’s economic reform remains challenging under the agreement with the International Monetary Fund (IMF).



However, speaking yesterday at a function involving top business leaders, the Finance Minister said several key factors such as unemployment, inflation rate and the net international reserves are heading in the right direction.



He said it is within that context that all stakeholders including the private sector must play their part in helping Jamaica grow.



Phillips also said it is critical that Jamaica’s international partners maintain their commitment in light of economic needs.



During his address, Phillip announced that Jamaica has passed its sixth quarterly review under its Extended Fund Facility with the IMF.



Jamaica will now be able to draw down an additional US$68 million as part of its four-year agreement.



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