Sun | Mar 24, 2019

PSOJ welcomes IMF chief's visit

Published:Thursday | June 26, 2014 | 12:00 AM

Ahead of the expected arrival of the International Monetary Fund (IMF) head, the Private Sector Organisation of Jamaica (PSOJ) said yesterday it welcomes Managing Director Christine Lagarde's visit to the island this week.

In a release yesterday, the PSOJ said at the current, crucial stage of the economic reform programme, it believed it was critical to have the country hear directly from the IMF managing director on the progress of the programme.

PSOJ President Chris Zacca, in welcoming Lagarde and commending the Government's commitment to meaningful fiscal reforms, cautioned that many people, including those who own and/or work in small businesses and local manufacturing enterprises, are feeling the pain of adjustment and that the country still faces a steep uphill climb.

"In order to achieve the meaningful economic growth that the IMF programme needs in order to be truly deemed a success, Jamaican businesses have to be given a playing field that allows them to be more competitive, and as such we are hopeful that during her visit, Madame Lagarde will address specific areas of concern to the Jamaican private sector, including the debate surrounding the continued steady depreciation of the Jamaican dollar, the tax reform agenda, the high cost of energy, and the need for the Government to address more assertively the culture of investment-unfriendly bureaucracy that impedes the business environment," Zacca said.