News

PSOJ urges support for flexible exchange rate

Friday, August 17, 2018

Print this page Email A Friend!


KINGSTON, Jamaica — The Private Sector Organisation of Jamaica (PSOJ) is calling on "well-thinking Jamaicans to refrain from speculative and narrow self-serving activity in the financial market which may have the effect of impeding the success of the national effort to stabilise the FX (foreign exchange) market".

PSOJ said it believes in the tremendous potential that would be unleashed by a stable FX Market and its consequential release of the state's ability to increase its inputs into areas of growth and development.

PSOJ, in a release today, said it acknowledges the substantial progress made by the Government of Jamaica in establishing the stability of the economy and taking positive steps towards growth.

“Equally we are sensitive to the painful sacrifices which all Jamaicans have had to make along the path to recovery. In this context we welcome and endorse the strategy for management of a flexible exchange rate regime by means of a focus on the rate of inflation rather than on the movement of the exchange rate itself.”

PSOJ also encouraged its members to continue to act with discipline and responsibility in managing their FX trading so as to assist the Bank of Jamaica in its establishment of its flexible exchange rate regime

ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT