JMEA Raises Alarm Over Forex Shortage

JMEA Raises Alarm Over Forex Shortage

Thursday | January 16, 2020

The Jamaica Manufacturers and Exporters Association (JMEA) has expressed alarm over the reported scarcity of foreign currency available to the productive sector, pointing out that the Jamaican dollar, which appreciated dramatically to $131 to the greenback in December, has lost more than three per cent of its value and is unavailable two weeks into the new year.

It warned in a release yesterday that the volatility and lack of liquidity would cause irrational behaviour that could undermine the intervention of the central bank late last year.

“This situation is seriously impacting the productive sector as companies are unable to meet obligations to suppliers and to do normal business. 

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