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JMD Undergoing Yearly Check-Up For Bloatedness - IMF Assessing Whether Jamaican Currency Still Overvalued
Published: Wednesday | April 16, 2014 1 Comment
McPherse Thompson, Assistant Business Editor
The International Monetary Fund (IMF) is doing another assessment of the Jamaican dollar to determine whether it is still overvalued and the degree to which it should be adjusted to boost competitiveness.
The fund previously estimated that the JMD was overvalued by 9-22%, but has not specifically indicated the level at which it expects the exchange rate to level off over time.
To pinpoint a specific rate is to suggest there is a magic number and that "when you reach that number everything is fine"; but that is not the case, said IMF mission chief for Jamaica, Dr Jan Kees Martijn.
Published: Wednesday | April 16, 2014 1 Comment
McPherse Thompson, Assistant Business Editor
The International Monetary Fund (IMF) is doing another assessment of the Jamaican dollar to determine whether it is still overvalued and the degree to which it should be adjusted to boost competitiveness.
The fund previously estimated that the JMD was overvalued by 9-22%, but has not specifically indicated the level at which it expects the exchange rate to level off over time.
To pinpoint a specific rate is to suggest there is a magic number and that "when you reach that number everything is fine"; but that is not the case, said IMF mission chief for Jamaica, Dr Jan Kees Martijn.
