Manufacturers bemoan challenges accessing foreign currency

Reports have emerged that for the first two weeks of the new year business interests have been facing challenges accessing some foreign exchange instruments.

This was revealed by the Jamaica Manufacturers and Exporters Association (JMEA) in a release to the media. The organisation explained that the issue was posing a challenge for companies that are unable to meet obligations to suppliers and to do normal business.

This they expect will have a serious impact on the productive sector unless those type of funds are made available to the end-users.

Still, the JMEA notes that when contact was made with the Bank of Jamaica (BOJ), the central bank indicated that more than enough funds were available.

The JMEA has urged the central bank to stipulate that foreign currency from commercial banks be made available to end-users in the productive sector.