Holness: Jamaica stands resilient, independent amid global crises

WESTERN BUREAU:

Emphasising that Jamaica must stand on its own two feet politically, economically, and socially, Prime Minister Dr Andrew Holness has outlined a bold vision for the nation amid an increasingly turbulent global landscape.

The prime minister was speaking at a World Bank luncheon at the Princess Grand Jamaica in Hanover on Tuesday afternoon, during the Global Tourism Resilience Conference.

Holness recounted the myriad challenges facing the country, from the devastating impacts of climate change to overlapping global crises.

“We experience climate change in a very real, tangible way,” he said, citing last year’s onslaught of Hurricane Beryl, the fastest-forming Category 5 storm; followed by unseasonal rainfall and Tropical Storm Rafael, which damaged critical road infrastructure.

For Jamaica, a small island open economy, such natural disruptions are not theoretical debates but pressing, existential threats, and it becomes even more concerning owing to the withdrawal of support the United States to several non-profit organisations as well as developing countries.

Central Dr Holness’ message was the concept of resilience, not merely as a catchphrase, but as a practical, day-to-day mindset ingrained in government policy. Holness explained that Jamaica has embraced fiscal resilience by building buffers in its budget and investing in innovative financial instruments such as catastrophe bonds.

“We manage our resources well, ensuring we do not spend more than we can afford or borrow beyond our capacity to repay,” he stated, highlighting a pragmatic approach to economic management.

RELY ON OWN RESOURCES

The prime minister also addressed the evolving nature of international aid. While Jamaica has historically benefited from external support, he stressed that as the nation matures, it must increasingly rely on its own resources.

“Political independence is secured only when we are economically independent,” Holness asserted, urging Jamaicans to embrace a model of self-reliance in a world where global support is no longer guaranteed.

Holness further underscored the need for diversification in Jamaica’s economic sectors. Recalling the global financial crisis of 2008-2009, which took a decade for the country to recover, he contrasted it with the rapid rebound from the COVID-19 pandemic as Jamaica not only recovered lost jobs but achieved record-low unemployment rates. This accelerated recovery, he noted, is a testament to the nation’s strengthened economic foundations and the importance of preparing for inevitable shocks.

In an era defined by rapid technological change, the prime minister championed the integration of digital transformation and artificial intelligence as key drivers of future growth.

“Jamaica must not be a spectator in the digital revolution,” he declared, calling for the nation to leverage technology to enhance productivity and position itself as a digitally native society in the global service economy.

Holness concluded his address by commending his ministers, particularly, Tourism Minister Edmund Bartlett, for effective responses to disruptions within the tourism sector.

“Our performance is measured by how quickly we recover from setbacks,” he said, praising the swift actions that have enabled Jamaica to maintain its competitive edge in a volatile global market.

janet.silvera@gleanerjm.com