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Aubyn Hill: 'Jamaicans just do not have money to spend'

Published:Wednesday | August 13, 2014 | 1:51 PM

Jovan Johnson, Gleaner Writer

KINGSTON, Jamaica:

The Chairman of the Jamaica Labour Party's economic council Aubyn Hill, is sharing concern that while there is evidence of economic growth, there appears to be little capital to invest.

The investment banker was speaking on Cliff Hughes Online on Power 106 FM this morning, hours before an International Monetary Fund (IMF) team arrives on the island to assess Jamaica’s latest performance.

Jamaica has, to date, recorded a decrease in unemployment and inflation.

There has also been a slow down in the depreciation of the Jamaican dollar.

While noting the importance of the favourable figures, Hill says he has doubts about the sustainability of the macroeconomic figures.

He says Jamaicans just do not have money to spend.

Hill also notes that the IMF has been warning Jamaica of growing weary of the far-reaching reforms because of public sentiments over the public’s opposition to new tax measures.

According to him, the Government needs to balance its actions with a growth strategy.

The bankers insists that Jamaica is still having a problem with political leadership.

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