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Businesses urged to take advantage of favourable economic climate

Published: Friday December 20, 2013 | 1:07 pm Comments 0
Ralston Hyman – File
Ralston Hyman – File

Financial analyst Ralston Hyman is urging local businesses to take advantage of what he says is the current favourable international economy.

He notes that the government has been making progress in implementing the reforms needed to facilitate growth and investment.

Among the reforms undertaken by the government is yesterday’s passage by the senate of a bill to create one-stop-shop for the registration of companies.

Hyman says it is now time for the private sector to step up and start investing.

On Wednesday, the Executive Board of the International Monetary Fund (IMF) completed the second review of Jamaica’s economic performance under the Extended Fund Facility arrangement enabling the disbursement of approximately US$30.8 million.

The IMF's acting chairman and deputy managing director Nayouki Shinohara, said the overall programme implementation under the loan agreement remains strong and that there are tentative signs of a gradual economic recovery.

Shinohara said Jamaica’s growth agenda needs to be bolstered by speeding up structural reforms that reduce bureaucracy and improve the government’s interface with the business community.

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