Clarke confident Jamaica's economic trajectory will continue

By Kimone Witter    

 

Outgoing Minister of Finance Dr. Nigel Clarke is seeking to assure Jamaicans that there will be continuity in the country's economic trajectory.

 

Dr. Clarke expressed confidence even as the parliamentary opposition criticised his decision to demit the post at what it describes as "the height of an economic crisis facing the country".

 

But the Finance Minister says he is confident the country's economic path will continue to be strengthened based on the achievement of a stable macro economic environment during his tenure.

 

Dr. Clarke says successful policy reforms will allow the government to focus on other critical issues such as education, health, transportation and the social safety net.

 

He says Jamaica today is in a much stronger position than previous years, due to entrenched macro stability as well as the indepedence of the central bank.  

 

"One of the things I'm very proud of is having had the policy responsibility and led the policy to make the central bank independent where the political directorate can't interfere in its affairs, so it's just focused on achieving low and stable inflation. And the government can't borrow from the central bank outside of a disaster," he said, arguing that in the past, government borrowing from the Bank of Jamaica contributed to the indisciplined way in which the country's fiscal affairs were run.    

 

Dr. Clarke said announced programmes will be implemented, some before his departure, next month. 

 

"So, Jamaica is a mature democracy with systems and institutions and procedures, and I have every confidence the trajectory of the economy will continue to be strengthened and opportunity will continue to expand for the Jamaican people," he maintained.  

 

Dr. Clarke was a guest Monday on TVJ's Smile Jamaica.