KINGSTON, Jamaica, CMC – Former finance minister Audley Shaw Tuesday called on the Jamaica government to implement a number of measures aimed at slowing or reversing the exchange rate of the local dollar against the United States currency.
Shaw, who is seeking to take over the leadership of the main opposition Jamaica Labour Party (JLP), said that the Portia Simpson Miller administration would need to implement the measures as a “means of restoring confidence in the economy”.
The US dollar now trades at J$104 and the former finance minister said the government should hold talks with the various stakeholders to “calm rapidly escalating concerns that the economy is going off the cliff”.