Jamaica: Structural adjustments in economy are working – Finance Minister Phillips

Jamaica’s Finance Minister, Peter Phillips has revealed that the period of difficulty for the country may be over as the island-nation has passed the worst as far as the effects of the structural adjustments imposed by the International Monetary Fund (IMF) are concerned.

However, Phillips cautioned that the country is not yet out of the woods. “There’s definitely pain before gain in the sense that we will have tight budgets for some time to come.”

He said it will take some time before all the productive and new productive activities which are going to take Jamaica out of the difficulty will get started. The Finance Minister cautioned that the process of simply getting an idea and moving that idea to a plan will take some time.-(CMC)