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"It Takes Cash To Care"..
"Holding to a positive outlook, Wynter, in his presentation, told journalists and financial analysts that the exchange rate had appreciated by 0.1 per cent during the period under review despite early pressures prior to the JDX and approval of the IMF agreement.
Foreign-exchange inflows from tourism were kept afloat, with an increase in stopover arrivals that translated into an 8.2 per cent rate of growth for the sector in the March quarter. The JMD is now trading at $89 to the USD.
Along with the stability in the foreign-exchange market, the central bank governor said a continued downward trend was reflected in domestic interest rates with the yield on the benchmark six-month Treasury bill falling by 6.31 percentage points, or 631 basis points.
Although economic conditions will continue to be constrained by weak demand, Wynter noted that the spillover from the positive economic trends in Jamaica's main trading partners will continue with some turnaround in Jamaica's position by the latter part of this fiscal year. Jamaica is projecting growth of half a point.
"The bank is cautiously optimistic that the buds of economic recovery will begin to be seen in the latter part of the fiscal year. The prospects for mining are encouraging, while growth in tourism and agriculture is expected to continue," he said.
And with the improved outlook and signs of a return of investor confidence, Wynter said BOJ was moving to sterilise the liquidity impact of the financial support that the central bank extended to the Government in December, by selling GOJ securities from its portfolio on the secondary market.
Of the J$20.6 billion in govern-ment medium- and long-term securities purchased during December, approximately J$17.6 billion has already been sold on the secondary market, Wynter said.
Additionally, Wynter noted that all J$13.6 billion worth of securities bought during the March quarter were redeemed along with the repayment of the bridging loans extended to the Government."
Mi know it nuh have nutting bout Dudus in it.. sarry.. Don1 and Mosiah have that less relevant portfolio..
"Holding to a positive outlook, Wynter, in his presentation, told journalists and financial analysts that the exchange rate had appreciated by 0.1 per cent during the period under review despite early pressures prior to the JDX and approval of the IMF agreement.
Foreign-exchange inflows from tourism were kept afloat, with an increase in stopover arrivals that translated into an 8.2 per cent rate of growth for the sector in the March quarter. The JMD is now trading at $89 to the USD.
Along with the stability in the foreign-exchange market, the central bank governor said a continued downward trend was reflected in domestic interest rates with the yield on the benchmark six-month Treasury bill falling by 6.31 percentage points, or 631 basis points.
Although economic conditions will continue to be constrained by weak demand, Wynter noted that the spillover from the positive economic trends in Jamaica's main trading partners will continue with some turnaround in Jamaica's position by the latter part of this fiscal year. Jamaica is projecting growth of half a point.
"The bank is cautiously optimistic that the buds of economic recovery will begin to be seen in the latter part of the fiscal year. The prospects for mining are encouraging, while growth in tourism and agriculture is expected to continue," he said.
And with the improved outlook and signs of a return of investor confidence, Wynter said BOJ was moving to sterilise the liquidity impact of the financial support that the central bank extended to the Government in December, by selling GOJ securities from its portfolio on the secondary market.
Of the J$20.6 billion in govern-ment medium- and long-term securities purchased during December, approximately J$17.6 billion has already been sold on the secondary market, Wynter said.
Additionally, Wynter noted that all J$13.6 billion worth of securities bought during the March quarter were redeemed along with the repayment of the bridging loans extended to the Government."
Mi know it nuh have nutting bout Dudus in it.. sarry.. Don1 and Mosiah have that less relevant portfolio..