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Finance minister hopeful multi-laterals agree to tweak Jamaica's economic programme

Published:Sunday | April 12, 2015 | 11:04 AM

Armed with the endorsement of United States President Barack Obama, Jamaica’s Finance Minister Dr Peter Phillips heads to Washington for a series of meetings in which he hopes to convince the leaders of several multi-national agencies to tweak the country’s current economic programme.

Speaking to the Gleaner-Power 106 News Centre before his departure, Phillips says this would create more room to crank up growth in the Jamaican economy.

Addressing a town hall meeting at the Mona Campus of the University of the West Indies last Thursday, Obama commended the Portia Simpson Miller administration for maintaining strong fiscal discipline under the current agreement with the International Monetary Fund (IMF).

He acknowledged that this has not been easy, but said Jamaica has been wise to work hard to abide by the IMF provisions and said this was the right thing to do.

Phillips says Obama’s visit and his remarks demonstrate that Jamaica’s performance has not gone unnoticed and is an indication that the US would be willing to assist.

While in Washington the finance minister will also co-chair discussions on the peculiar challenges in Caribbean countries during a meeting of the G20 Development Working Group.