Business
Holness: Investment in Jamaica’s infrastructure key to growth
Friday, November 18, 2011
Jamaican Prime Minister Andrew Holness (pictured), said his government’s strategy is to emphasize public- private ventures to drive the US$13 billion economy’s expansion and “not to depend on public spending for growth.”
Holness, took office last month while vowing to implement tax reforms and reduce government spending to “gradually” lower the national debt, which currently equals 128 percent of Jamaica’s gross domestic product. The prime minister yesterday said that Jamaica has finally gained “alignment” on inflation and interest rates following a 2010 debt exchange devised by the International Monetary Fund (IMF) that restructured 91 percent of local bonds.