Friday, October 09, 2015
LIMA, Peru — World Bank President Jim Yong Kim, (right centre), walks to where he will meet with Latin American economy ministers, in Lima yesterday. The world’s finance ministers and central bankers are in Lima for the joint annual meetings of the World Bank and IMF that run through Sunday. (PHOTO: AP)
OVER the last few weeks Jamaica has seen a succession of downgrades in its growth forecasts.
First the IMF, in their ninth review, downgraded their growth forecast for Jamaica to 1.4 per cent from 1.7 per cent (it was originally at 2.0 per cent), in line with the government’s interim fiscal policy paper released shortly thereafter.
Standard and Poors, in their recently released report on Jamaica, also downgraded their growth forecast to 1.2 per cent. At their big conference in Lima, Peru, this week, the IMF again downgraded their growth forecast for Jamaica to 1.1 per cent for 2015, and marginally reduced their forecast to 2.1per cent for next year.
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