IMF predicts weaker growth for Jamaica - Business - Jamaica Gleaner - Wednesday | October 10, 2012

IMF predicts weaker growth for Jamaica - Business - Jamaica Gleaner - Wednesday | October 10, 2012: "The projection highlighted in the World Economic Outlook (WEO) released Monday significantly trails the Latin America & Caribbean region at 3.2 per cent in 2012 and 4.0 per cent in 2017.

However, when disaggregated, Jamaica beats traditional Caribbean leaders Trinidad & Tobago and Barbados, both geared to grow at 0.7 per cent in 2012.

Haiti will lead the Caribbean at 4.5 per cent followed by its neighbour Dominica Republic at 4.0 per cent.

"In the Caribbean, high public debt and weak tourism and remittance flows continue to constrain the outlook, and growth is expected to remain lacklustre at about 2.75 to 3.5 per cent," stated the IMF in the report.

Panama leads Latin America with growth predicted at 8.5 per cent, while Paraguay trails the region with negative growth of 1.5 per cent.

The IMF has reduced Jamaica's 2012 growth prediction from 1.7 per cent to the current 0.9 per cent when WEO editions are compared year on year."

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