Above: Jamaican PM Portia Simpson Miller (Photo: OPM)

By the Caribbean Journal staff

Jamaican Prime Minister Portia Simpson Miller said the new International Monetary Agreement that is soon to be negotiated will provide confidence to the business community.

According to Simpson Miller, who was giving a speech to a Jamaican business group, the new deal will also offer hope for the Jamaican people.

But it’s business confidence that should have the biggest impact on the Jamaican economy — creating a sense of direction for Jamaican enterprise, she said.

“That is one of the reasons why we are moving to put in place a credible medium-term macroeconomic programme with the IMF,” Simpson Miller said.

The country’s IMF deal was a major issue during the December election campaign. In late January, an IMF delegation held talks led by Finance Minister Dr Peter Phillips.

At the time, the IMF said the key challenges for Jamaica included high public debt, low economic growth and the need for a strong policy response.