Unpacking Jamaica’s Currency Depreciation
Currency movements are normal in an open economy like Jamaica, and Bank of Jamaica’s flexible exchange rate policy will help absorb shocks. (iStock by Getty Images)
In This Episode
Jamaica’s economic reform plan launched back in 2013, has shown promise. Employment is at historic highs and external borrowing costs are lower than they’ve ever been. But economic growth is still slow, and the recent depreciation of the Jamaican dollar has turned attention to a shift in the Bank of Jamaica’s foreign exchange policy. In this podcast, IMF economist Uma Ramakrishnan, says the central bank’s renewed commitment to its flexible exchange rate regime will help stabilize prices and spark growth.
