Dr Gene Leon, the International Monetary Fund (IMF) senior resident representative to Jamaica, is arguing that discussions on whether Jamaica should go the way of a fixed exchange rateis misplaced.
Leon, along with economists Dr Damieon King and Dr André Haughton, who were guests at a Gleaner Editors' Forum yesterday, said Jamaica needs to focus on fixing the fundamentals of its economy, rather than being concerned with the value of the Jamaican dollar.
"We focus on the exchange rate as though that exchange rate is anything other than a consequence of where we are," Leon said.
Yesterday, the Jamaican dollar closed at J$100.47:US$1 after breaking the J$100:$US1 mark for the first time last Friday.
The IMF, with which the country's has entered a US$2 billion four-year extended fund facility, said Jamaica's currency is overvalued. Read More...
No comments:
Post a Comment