When you cannot predict, you prepare. And so both the governing party and the Opposition are at peace with the decision to resume accessing loans from the International Monetary Fund, IMF.
In relation to the World Bank’s prediction that at least one-third of the world will fall into recession, Opposition Spokesman on Finance Julian Robinson views this decision as a line of credit, in case the country falls into economically challenging times.
Noting it allows the government to pay off more expensive debt with a cheaper facility from the IMF. This as he expounds on how a recession is likely to affect Jamaica. Tourism is not the only sector that faces possible difficulty, as Robinson notes the likely chain reaction a recession will have on the country.
Meanwhile, some economists believe the recession crisis may be avoided altogether if inflation and other variables continue to ease.
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Reporter: Nasika Alliman
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