PSOJ

BOJ 1st Quarter Review—Global Recession has Dominant Impact on Jamaican Economy: On May 20, 2009 the Governor of the Bank of Jamaica Hon. Derick Latibeaudiere, presented the Bank of Jamaica’s (BOJ’s) first quarter review of the Jamaican Economy. The Bank described the local economic environment as one in which there was a dominant influence of the Global Economic Recession. The bank pointed to heightened levels of fluctuations in the foreign exchange market as demand pressures surged especially in January. This increase in volatility resulted from a contraction in credit lines normally made accessible to local importers and financial institutions.