The finance minister is going to start a working group to investigate the devaluation of the dollar.
Why not just ask Mr.Brian Wynter or di IMF we father. afifa aza 2016
“BANK of Jamaica Governor Brian Wynter says the Jamaican dollar is no longer overvalued and is now less susceptible to unpredictable slippage, following recommendations by the International Monetary Fund (IMF) for its continued devaluation to maintain competitiveness.
The statement, which was yesterday released by the bank under the September quarter review, also indicated a two percentage point decline in the country’s inflation rate quarter over quarter — from 3.8 per cent to 1.8 per cent — continuing on its 40-year-low trend.
“The Jamaican dollar is no longer overvalued and is therefore less susceptible to unpredictable slippage,” Wynter stated.
“As additional insurance, Bank of Jamaica has built up a very considerable surplus in the NIR (some US$1.0 billion in excess of agreed targets with the International Monetary Fund),” Wynter added on a day when the Jamaican dollar traded at $119.84 to US$1.”
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