Unpacking Jamaica’s Currency Depreciation

<p>Jamaica’s economic reform plan launched back in 2013, has shown promise. Employment is at historic highs and external borrowing costs are lower than they’ve ever been. But economic growth is still slow, and the recent depreciation of the Jamaican dollar has turned attention to a shift in the Bank of Jamaica’s foreign exchange policy. In this podcast, economist Uma Ramakrishnan, says the central bank’s renewed commitment to its flexible exchange rate regime will help stabilize prices and spark growth. Ramakrishnan heads the IMF team for Jamaica.</p> <p><em>Uma Ramakrishnan</em> is a Division Chief in the IMF’s Western Hemisphere Department and heads the team for Jamaica.</p>