Jamaica’s Prime Minister Andrew Holness has praised Grenada’s fiscal discipline as it implements a home-grown structural adjustment programme with the support of the International Monetary Fund (IMF).
Holness , addressing the convention of the ruling New National Party on Sunday, said that reducing the debt to gross domestic product (GDP) ratio from 108 to 72 per cent in three years is a feat that has to be commended.
“From what I have read, and what has been reported, the fiscal discipline of your government has been exemplary.
The Jamaican leader said it is never easy for any country to go through a structural reform of its economy but encouraged Grenada not to give up on those reforms.
“For our economies, small island developing states, to survive in this changing world, our economies have to be more efficient, they have to be more robust, they have to be more diverse, they have to be more resilient, and they have to be growing and growing and growing.”
He said the economic growth is “not just for the big people, they have to grow for the little people as well because economic growth starts at the root and the benefit of economic growth is that people must get jobs.”