Prime Minister Andrew Holness recently tried to explain to journalists at his quarterly media briefing, the cause of the slide of the Jamaican dollar. Some persons are having a hard time as they try to understand how the dollar can be devalued when there has been a report that the economy is growing.
However, Mr. Holness explained that the previous Government had policies that were set to cause the slide of the dollar and these policies are still affecting the Jamaican dollar at this time, he says the economy is having some growing pains at the moment.
Holness said the Jamaican dollar lost 41% of it’s value during the years when the People’s National Party was the Government and even with the new policies that are now in place, the dollar has not become stable as yet.
The Prime Minister says we are in a new era and we should not be watching just the US dollar when we think about the value of the Jamaican dollar.