Jamaica has been quietly stabilizing its economy over the past decade, bringing inflation down to 5% thanks to new monetary policy and the development of sectors like tourism, agriculture, outsourcing, manufacturing, logistics, and construction to create jobs, economic opportunities, and diversify the industry across the country. The island has accomplished significant feats in these sectors and is even now noted as the easiest place to do business in the Caribbean by the World Bank’s Ease of Doing Business Report.
As a Small Island Developing State, the pandemic posed a major threat to the island’s economy. However, with quick reactions from Jamaica’s government and private sector stakeholders, the country has managed to avoid major fallout from issues like food security, shortage of goods, and disturbances in services.
TBY will sit down with JAMPRO President Diane Edwards and Jeffrey Hall, CEO of Jamaica Producers Group to discuss how Jamaica has used the pandemic as an opportunity to change its perspective, and to further push initiatives for strengthening the economy in preparation for the end of the pandemic.