Th­waites wants de­bate on dol­lar de­cline

Jamaica Gleaner - - NEWS -

CEN­TRAL KINGSTON Mem­ber of Par­lia­ment Ron­ald Th­waites wants the Par­lia­ment to en­gage in a de­bate on the de­cline in the value of the Ja­maican dol­lar and its im­pact.

Th­waites also wants leg­is­la­tors to put for­ward so­lu­tions to the de­cline.

He has tabled a mo­tion in the House call­ing for the de­bate.

Ac­cord­ing to Th­waites, res­i­dents in his con­stituency and other Ja­maicans have been ex­pe­ri­enc­ing hard­ship be­cause of the drop in the value of the Ja­maican dol­lar.

He also con­tends that eco­nomic growth is be­ing af­fected since there is now more pres­sure on the lo­cal cur­rency.

Th­waites said the deal with the In­ter­na­tional Mone­tary Fund has af­fected the value of the Ja­maican dol­lar.

There have been con­cerns about the con­tin­ued slide in the value of the dol­lar, with calls for the Govern­ment to take ac­tion to slow the pace.

Last week, Gov­er­nor of the Bank of Ja­maica Brian Wyn­ter told Par­lia­ment’s Pub­lic Ad­min­is­tra­tion and Ap­pro­pri­a­tions Com­mit­tee that the Ja­maican dol­lar had de­clined by 5.6 per cent since April.

Wyn­ter said this com­pares to 3.9 per cent for the cor­re­spond­ing pe­riod last fis­cal year.

At the same time, he said in­fla­tion has re­mained fairly low.


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