Jamaica Cited as Example as Former Finance Minister Urges Fiscal Discipline in Region
Dr. Nigel Clarke has highlighted Jamaica’s fiscal reform achievements as a model for sustainable economic growth across the Caribbean.
He was delivering the keynote address at the 25th William G. Demas Memorial Lecture, hosted Tuesday evening by the Caribbean Development Bank.
In the context of rising global trade tensions and slowing international growth, Clarke noted that the Caribbean faces added pressure due to its existing development challenges.
Despite those headwinds, he said the region must overcome them by entrenching fiscal discipline and stability.
Using Jamaica as an example, Clarke pointed to the country’s fiscal reforms as evidence of how such measures can enhance a nation’s growth prospects.
He also referenced Jamaica’s record low levels of poverty, attributing this to the hard-won fiscal stability achieved over time.
Clarke argued that macro-economic instability remains the region’s most persistent challenge.
He urged Caribbean nations to prioritise stability by empowering their institutions.
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