Prime Minister Reaffirms Gov’t’s Commitment to Securing Jamaica’s Economic Independence

• Prime Minister, Dr. the Most Hon. Andrew Holness, has reaffirmed the Government’s commitment to securing Jamaica’s economic independence and resilience. This assurance comes in the wake of the recently announced halt in funding support provided under United States Agency for International Development (USAID) programmes.
• Holness said the Government has taken note of the decision, “that sent waves of concern across Jamaica.” He said this shift presents immediate challenges, particularly regarding cash flow for ongoing initiatives locally.
• “So far, we have assessed that we have about US$54 million of programmes being funded by the USAID over several yearly budget periods. Some programmes range from one to three years, or maybe a little bit more. Given that these programs have lost funding, the prime minister is assessing any potential fallout from the hold placed on funding from USAID.
• The Prime Minister pointed out that the Government has been proactively making strides toward reducing its dependency on foreign aid by developing a robust economy, improving fiscal management and creating an environment conducive to sustainable inclusive growth.
• Holness maintained that rather than focusing on aid dependency, the aim is to build mutually beneficial bilateral relationships with international partners. “So… we await what would be the new direction and we look forward to working with the United States Government on issues that are of mutual and strategic importance. I am confident that there will be a new future for US-Jamaica relations,” he said.

(Source: JIS)