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Build NIR for rainy day — Phillips


MONTEGO BAY, St James — With the country’s Net International Reserves (NIR) set to hit US$1.3 billion by month end, Minister of Finance and Planning Dr Peter Phillips says the time has come for Jamaica, as a sovereign nation, to ensure it can finance its own recovery from crises like natural disasters.

Speaking at the Economic Reform Programme Stakeholders Conference for the county of Cornwall held at the Montego Bay Convention Centre in St James on Friday, Phillips said the island was blessed to have been spared during last year’s very active hurricane season, but suggested that that was no reason to become complacent.

Published in the Jamaica Observer
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