{"id":75588,"date":"2019-10-29T10:50:34","date_gmt":"2019-10-29T14:50:34","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=75588"},"modified":"2019-10-29T10:50:34","modified_gmt":"2019-10-29T14:50:34","slug":"jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/","title":{"rendered":"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar"},"content":{"rendered":"
\"\"<\/a><\/div>
\"\"<\/a><\/div>

Opposition Spokesperson on Finance Mark Golding says the continued instability in Jamaica\u2019s foreign exchange market is leaving taxpayers with higher debt service obligations.<\/p>

\"\"<\/a><\/div>\n

Additionally, Golding argues that this situation has left Jamaicans being forced to find more money to pay for light bills, energy, and other essential imports.<\/p>\n

According to him, there is a severe shortage of supply of US dollars despite the Bank of Jamaica selling US$50 million of the country\u2019s international reserves to the commercial banks over the past seven days.<\/p>

\"\"<\/a><\/div>
\"\"<\/a><\/div>\n

In a statement today, Golding noted that last Friday\u2019s selling rate of $138.80 to US$1.00 represents a fall of over $12\u00a0or\u00a010% since the beginning of the 2019\/20 fiscal year.<\/p>

\"\"<\/a><\/div>\n

He noted that with almost two-thirds of Jamaica\u2019s public debt stock in foreign currency, it will cost more to service debt and pay for imports.<\/p>\n

The PNP spokesman further noted that from January to July 2019 the BOJ lowered its policy interest rate six times from 1.75% to 0.5%, while at the same time lowering the cash reserve requirements from 12% to 7%.<\/p>

\"\"<\/a><\/div>\n

This, he said, resulted in an increase in liquidity in the financial system by $28.1 billion while the rate of credit expansion in the economy has slowed compared with last year.<\/p>\n

\u201cThe expansion of liquidity is adversely impacting the foreign exchange market, a predictable outcome given that Jamaica\u2019s inefficient credit transmission system remains substantially closed to small businesses and is not financing higher levels of economic expansion,\u201d Golding said.<\/p>

\"\"<\/a><\/div>\n

He added that the official forecast of economic growth for this fiscal year has been cut in half to 0.7%, with the closure of the JISCO ALPART plant in St Elizabeth and business confidence has fallen for two successive quarters.<\/p>

\"\"<\/a><\/div>\n

\u201cRepeated bouts of instability in the foreign exchange market are making it difficult for businesses to plan and invest\u201d, he said.<\/p>\n

The opposition also notes that the BOJ drew brakes last week issuing $12.9 billion of interest-bearing securities to try to reduce the devaluation pressure on the local currency.<\/p>\n

He says\u00a0the shortage of US dollar supply persists and is negatively impacting the real sector of the economy.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

Opposition Spokesperson on Finance Mark Golding says the continued instability in Jamaica\u2019s foreign exchange market is leaving taxpayers with higher debt service obligations. Additionally, Golding argues that this situation has left Jamaicans being forced to find more money to pay for light bills, energy, and other essential imports. According to him, there is a severe […]<\/p>\n","protected":false},"author":3,"featured_media":75590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-75588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional"],"yoast_head":"\nJAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar\" \/>\n<meta property=\"og:description\" content=\"Opposition Spokesperson on Finance Mark Golding says the continued instability in Jamaica\u2019s foreign exchange market is leaving taxpayers with higher debt service obligations. Additionally, Golding argues that this situation has left Jamaicans being forced to find more money to pay for light bills, energy, and other essential imports. According to him, there is a severe […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-29T14:50:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar\",\"datePublished\":\"2019-10-29T14:50:34+00:00\",\"dateModified\":\"2019-10-29T14:50:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/\"},\"wordCount\":356,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg\",\"articleSection\":[\"Regional\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/\",\"url\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/\",\"name\":\"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar - Antigua News Room\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg\",\"datePublished\":\"2019-10-29T14:50:34+00:00\",\"dateModified\":\"2019-10-29T14:50:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage\",\"url\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg\",\"contentUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg\",\"width\":600,\"height\":450},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/antiguanewsroom.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/antiguanewsroom.com\/#website\",\"url\":\"https:\/\/antiguanewsroom.com\/\",\"name\":\"Antigua News Room\",\"description\":\"News As It Happens\",\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/antiguanewsroom.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\",\"name\":\"Antigua Newsroom\",\"url\":\"https:\/\/antiguanewsroom.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:1080\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/08\/IMG_1584.jpeg\",\"contentUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:1080\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/08\/IMG_1584.jpeg\",\"width\":1260,\"height\":1260,\"caption\":\"Antigua Newsroom\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/antiguanewsroom\",\"https:\/\/x.com\/AntiguaNewsRoom\",\"https:\/\/www.instagram.com\/antiguanewsroom\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\",\"name\":\"Editor\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96\",\"caption\":\"Editor\"},\"url\":\"https:\/\/antiguanewsroom.com\/author\/editor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar - Antigua News Room","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/","og_locale":"en_US","og_type":"article","og_title":"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar","og_description":"Opposition Spokesperson on Finance Mark Golding says the continued instability in Jamaica\u2019s foreign exchange market is leaving taxpayers with higher debt service obligations. Additionally, Golding argues that this situation has left Jamaicans being forced to find more money to pay for light bills, energy, and other essential imports. According to him, there is a severe […]","og_url":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/","og_site_name":"Antigua News Room","article_publisher":"https:\/\/www.facebook.com\/antiguanewsroom","article_published_time":"2019-10-29T14:50:34+00:00","og_image":[{"width":600,"height":450,"url":"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg","type":"image\/jpeg"}],"author":"Editor","twitter_card":"summary_large_image","twitter_creator":"@AntiguaNewsRoom","twitter_site":"@AntiguaNewsRoom","twitter_misc":{"Written by":"Editor","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#article","isPartOf":{"@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/"},"author":{"name":"Editor","@id":"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5"},"headline":"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar","datePublished":"2019-10-29T14:50:34+00:00","dateModified":"2019-10-29T14:50:34+00:00","mainEntityOfPage":{"@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/"},"wordCount":356,"commentCount":0,"publisher":{"@id":"https:\/\/antiguanewsroom.com\/#organization"},"image":{"@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage"},"thumbnailUrl":"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg","articleSection":["Regional"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/","url":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/","name":"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar - Antigua News Room","isPartOf":{"@id":"https:\/\/antiguanewsroom.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage"},"image":{"@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage"},"thumbnailUrl":"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg","datePublished":"2019-10-29T14:50:34+00:00","dateModified":"2019-10-29T14:50:34+00:00","breadcrumb":{"@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#primaryimage","url":"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg","contentUrl":"https:\/\/mlavawteztbj.i.optimole.com\/w:600\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2019\/10\/mark_golding4.jpg","width":600,"height":450},{"@type":"BreadcrumbList","@id":"https:\/\/antiguanewsroom.com\/jamaica-opposition-concerned-about-impact-of-declining-jamaican-dollar\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/antiguanewsroom.com\/"},{"@type":"ListItem","position":2,"name":"JAMAICA: Opposition Concerned About Impact Of Declining Jamaican Dollar"}]},{"@type":"WebSite","@id":"https:\/\/antiguanewsroom.com\/#website","url":"https:\/\/antiguanewsroom.com\/","name":"Antigua News Room","description":"News As It Happens","publisher":{"@id":"https:\/\/antiguanewsroom.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/antiguanewsroom.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/antiguanewsroom.com\/#organization","name":"Antigua Newsroom","url":"https:\/\/antiguanewsroom.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/antiguanewsroom.com\/#\/schema\/logo\/image\/","url":"https:\/\/mlavawteztbj.i.optimole.com\/w:1080\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/08\/IMG_1584.jpeg","contentUrl":"https:\/\/mlavawteztbj.i.optimole.com\/w:1080\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/08\/IMG_1584.jpeg","width":1260,"height":1260,"caption":"Antigua Newsroom"},"image":{"@id":"https:\/\/antiguanewsroom.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/antiguanewsroom","https:\/\/x.com\/AntiguaNewsRoom","https:\/\/www.instagram.com\/antiguanewsroom\/"]},{"@type":"Person","@id":"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5","name":"Editor","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/antiguanewsroom.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ad516503a11cd5ca435acc9bb6523536?s=96","caption":"Editor"},"url":"https:\/\/antiguanewsroom.com\/author\/editor\/"}]}},"_links":{"self":[{"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/posts\/75588","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/comments?post=75588"}],"version-history":[{"count":0,"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/posts\/75588\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/media\/75590"}],"wp:attachment":[{"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/media?parent=75588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/categories?post=75588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/antiguanewsroom.com\/anr-api\/wp\/v2\/tags?post=75588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}