Listen to the brightest minds in the field of economics and development discuss their latest research and deconstruct global economic trends. IMF Podcasts are also available on digital platforms such as iTunes, SoundCloud and Libsyn, and free to use for broadcasters, educators and institutions. 

Unpacking Jamaica’s Currency Depreciation

September 12, 2018

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)

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.

Uma Ramakrishnan is a Division Chief in the IMF’s Western Hemisphere Department and heads the team for Jamaica.