After five decades of economic stagnation, does Jamaica have
Jamaica’s public debt-to-GDP ratio, which peaked at 110 per cent in FY2020/21, has since declined to 79.7 per cent in FY2022/23 and is expected to gradually fall below 70 percent over the medium term. These achievements are further highlighted by improved credit ratings from Standard & Poor’s and Fitch.
Despite these successes, Toni-Ann Neita-Elliott VP Sales & Marketing at Sterling Asset Management notes that challenges remain. “Jamaica has faced slow economic growth due to various factors, including low productivity in services, limited technology adoption and innovation, high connectivity costs, a weak business environment, and pervasive crime. The disruptions in learning during the pandemic could have long-term effects on growth and human capital”.
Vulnerabilities and Resilience:
Jamaica remains highly vulnerable to external shocks, particularly due to its reliance on imports and tourism. The country’s growth and poverty reduction efforts are at risk in the face of external shocks, especially climate-related ones.
We invite you to listen to this vital conversation about Jamaica’s path forward for our nation’s economic prosperity live on Nationwide FM on Thursday, November 16, 2023, at 6 p.m.
Marian Ross-Ammar (Moderator): VP Trading & Investment, Sterling Asset Management.
Charles Ross: President and CEO, Sterling Asset Management.
Dennis Jones: Former Senior Economist, IMF
Dr. Samuel Braithwaite: Lecturer, Departm
Nataliya Mylenko: Lead Economist Caribbean Region – World Bank Group