Tue | Dec 6, 2016

IMF high-level forum on growth starts tomorrow

Published:Wednesday | October 22, 2014 | 12:00 AM

The International Monetary Fund (IMF) has noted that Caribbean economies have been slow to recover from the global financial crisis and hence, starting tomorrow, it will host a high-level forum in collaboration with Jamaica's Ministry of Finance and Planning to discuss ways of boosting the economies of the region.

The event, to be held in Montego Bay, St James under the theme, Unlocking Growth in the Caribbean, will focus on how to unlock growth in the region and will examine key issues such as improving the reliability and efficiency of energy provision, a tax regime to encourage investment, and steps to strengthen the financial sector, the IMF said in a release.

"The outlook for the Caribbean economies continues to be challenging. This forum will be an opportunity to further our ongoing dialogue with the region's policymakers on how to work toward stronger and inclusive growth in the Caribbean by addressing important issues such as energy provision, tax incentives and financial sector resilience," Alejandro Werner, director of the IMF's Western Hemisphere Department, said.

The event, a follow-up to last year's high-level conference in The Bahamas, Building Growth into the Caribbean Sustainability Agenda, will bring together prime ministers, finance ministers, central bank governors and other high-ranking officials from Caribbean countries, as well as senior officials from the IMF, the Caribbean Development Bank, the Inter-American Development Bank, the World Bank and private sector representatives.

Prime Minister Portia Simpson Miller will open the conference tomorrow. The IMF delegation will be headed by Min Zhu, deputy managing director of the Fund; and Werner, who oversees IMF activities and operations in the Caribbean, North America and South America.

business@gleanerjm.com