Thu | Dec 9, 2021

'Halt sliding dollar immediately'

Published:Friday | October 25, 2013 | 6:12 PM

Opposition Leader Andrew Holness is demanding that the Government take immediate action to halt the slide in the value of the Jamaican dollar.



Holness says the value of the dollar has been depreciating at an alarming rate and the continued uncertainty is doing little to restore business and consumer confidence in the economy.



He argues that the government has been employing a policy of devaluation which has been making the business environment generally unstable.



In a recorded statement sent to the media, Holness said he is particularly concerned about the effect the slide in the dollar has been having on Jamaica’s debt.



Holness says it is important to get the key macro-economic variables properly aligned and moving in the right direction once again.



It currently requires almost J$105 to purchase US$1.



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