Multinational loans won’t stabilise dollar - IMF rep

KINGSTON, Jamaica - DR GENE LEON, the International Monetary Fund (IMF) senior resident representative to Jamaica, has branded as illusionary, the view that an inflow of hard currency from the multinationals will bring stability to the country's foreign exchange market. Leon, who was a guest at The Gleaner's Editors' Forum on Wednesday, said stability results from earning enough foreign exchange relative to demand for hard currency. "When you say the exchange rate is stable, the question is how. Was it because you were earning, or was it because you are spending less, or was it because somebody was financing you?" Leon posited.