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To Succeed As A Nation In Harnessing The Opportunities That Exist With The Fourth Industrial Revolution We Must Engage Micro, Small And Medium-Sized Enterprises.

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Introduction
Let me first thank the organisers for the invitation and opportunity to address this august gathering.

The Flow family extends hearty congratulations to those well deserving members of the industry and those outstanding students from the UWI, UTECH and the Caribbean Maritime University who will receive awards this evening. I also want to commend the board and members of the Jamaica Institution of Engineers for the work you have done in this country over the years, setting the standards for engineering design and monitoring their implementation. You are part of the reason we can feel safe as we go about our daily business.

Ladies and gentlemen, there is one fact that every one of us in this room can all agree on, and that is…the world is not the same as it was 20 years ago.

Indeed, the world has evolved and advanced through several Industrial Revolutions taking us to where we are now – the Fourth Industrial Revolution – the age of Artificial Intelligence! The World Economic Forum fitly coined the term in response to the change which they saw coming in how people and the world would operate because of artificial intelligence.

We have shifted from the Third Industrial Revolution – which was centered around Information Technology and Digitization – where applications were about people or IT processes communicating.

Through improved systems and networks globally, we have seen groundbreaking technology, unprecedented processing power and speed, massive storage capacity, and data being collected and harnessed like never before.

Ladies and gentlemen – this fourth wave of industrial development characterized by automation, mobile computing and artificial intelligence, is no longer a futuristic concept, it is our present reality, and is set to significantly impact our lives and work, whether we accept it or not!

Here are a few examples of the change in action:
Voice activated “Digital assistants” from Amazon (Alexa), Apple (Siri), Google (Google Assistant) or Microsoft (Cortana) are in millions of households… seemingly an almost overnight sensation.

New Age companies – Uber, AirBnb, Netflix, and Alibaba – are all service providers that own no actual inventory.

Even logistics providers are utilising increased technology to remain relevant, with DHL testing the use of augmented reality glasses among its employees and UPS looking to provide 3D printing services from its stores. Amazon is also testing out delivery drones, robotics for goods handling, and new apps to optimize asset-light delivery services in major cities.

In China, Amazon does some of its basic assembly and packaging via Artificial Intelligence – enabled robots at a cost of less than US$8 per day.

To quote from Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, “There has never been a greater time of promise, or a greater time of peril.”

The reality is, ladies and gentlemen, companies and industries that don’t adapt with the new technology, struggle, and at worse… fail. The change is inevitable…not optional, and will require a shift in mindset. The proverbial writing is on the wall!

We only need to look at some examples of global organizations that are now struggling because they failed to take advantage of the industrial development:

Nokia – which despite owning 30 per cent of the world’s mobile patents (GSM) finds itself struggling to stay relevant; Kodak invented the digital camera technology, but failed to capitalize on it; General Motors – produced the first commercial electric car over 20 years ago, stopped its rollout, and now finds itself trying to catch up with the Japanese hybrids. Bookstores, the music industry and newspapers – all of which were the giants of their time, now find themselves struggling to avoid extinction.

And while some professional jobs face the risk of extinction within the next 20 years, the Fourth Industrial Revolution provides new opportunities for economic, social and personal development by empowering individuals and communities. This development will, however, require upgrading of skill sets and training to prepare individuals to adapt to the new environment.
Educational institutions at the secondary and tertiary levels that have not yet started, are also required to begin preparing students for the changing world of work.

The technological shift will enable workers on the front line, on the road and in the field to make smarter decisions, solve tougher problems and do their jobs better.

So, in all of this, where is Jamaica now and where are we going?
I am heartened that Jamaica has begun the conversation, and is among countries that have seen it fit to make provisions for the inevitable change heralded
by the Fourth Industrial Revolution.

Already, the country is making strides through the establishment of an Information Communication Technology (ICT) Sector Plan which is grounded in the premise that the use of ICTs is critical in ensuring that Jamaica achieves its goal of developed country status by 2030.

The plan outlines the key linkages between adoption and application of ICTs to the growth and/or success of other sectors such as education, governance and administration, science, technology and innovation and the cultural/creative industries.

To date, the country has developed the animation sector; and designed a secure Government of Jamaica private telecommunication network to connect all Ministries, Departments and Agencies, provide voice, data and video services. The network when launched, is expected to reduce overall telecommunication costs for the Government; improve communication across ministries and agencies; and reduce the transaction costs associated with the provision of public services and information. The Government has also developed and strengthened national ICT policy, strategy, and legislation.

A unique opportunity awaits Jamaica to harness the repository of skills that already exist – honouring the past and preserving a culture, even while embracing a technology-based future.

Ladies and gentlemen, as the leading telecommunications provider in the region, FLOW Jamaica is mindful of its responsibility in helping to prepare the nation for the technological changes.

Central to that preparation is the push to deepen internet penetration throughout the island, and into every household in Jamaica. FLOW is also making mobile data more accessible to all by increasing affordability. Additionally, our new unlimited mobile plan – FLOW Platinum, ensures customers are always connected with 15 GB of data access at blazing LTE speeds via our superior network.

We have made investments to ensure we are laying the backbone for this internet penetration, which means each and every part of the island, rural and urban, is included. In 2016, that investment saw us bringing high-speed internet of a minimum of 25MB/s speeds to 150 communities. We are rolling out those internet speeds for another 220 communities by the end of 2017, making sure we continue deepening penetration. In 2018, we seek to make further investments to enhance our technology. We were the first company to bring mobile to Jamaica and have seen the gradual progression of technology – moving from 2G to 3G and 4G. In 2016, we launched LTE for the first time and we are now making sure we can offer LTE speeds countrywide.

We will also continue the partnership with the Government through their Universal Service Fund to bring public access points into schools, libraries and post offices across the island. Through the FLOW Foundation, we are providing additional community access points at churches and community centres.

Ladies and gentlemen, if we are to succeed as a nation in harnessing the opportunities that exist with the Fourth Industrial Revolution, then we must engage
Micro, Small and Medium-sized Enterprises (MSMEs). They form an important part of our heritage, are a critical driver of growth and development, and can play an even more significant role through strategic partnerships, as we embrace the wave of industrial change.

FLOW is aligned on Vison 2030 and remains committed to supporting the Government in achieving these goals. Our work in the telecoms sector is directly related to the goal of making Jamaica prosperous, thereby creating a technology-enabled society.

We are also supporting the Government’s 5 in 4 Economic Growth Programme – a key pillar for moving the nation forward. Access to, and leveraging the best technology, are key anchors for the programme, and we view this as a major area of support for the national agenda.
How does FLOW Support the BPO Sector?

The concept of the Fourth Industrial Revolution is already evident in FLOW Jamaica’s operations as we have been focused on transforming the customer experience with our products and services to meet expectations.

Ask FLOW – an artificial intelligence system to be rolled out shortly, allows customer service agents to provide information in quick time and ensure consistency of information provided to customer queries. This feature is in addition to our FLOW 6 IVR – the new Interactive Voice Response system already in operation at FLOW’s two Contact Centres in the Corporate Area and in Montego Bay.

We are mindful of those customers who are more hesitant to adapt to the technology, and systems have been put in place to also address their needs.

At FLOW, we are constantly seeking ways to enhance our products and services by staying on top of the technological changes and resulting demands. This is not the time for inaction…and so our thrust is to keep pushing forward, looking for the best opportunities in this age to better serve our customers.

Ladies and gentlemen, as I close, it is clear that technological change is inevitable with the Fourth Industrial Revolution, which is set to transform economies like never before. Action is therefore required on the part of every organization to preserve their relevance in an age of change. One thing is sure, while transformation will occur in different stages across the globe, no market will be spared the effects of the approaching tidal wave.
Thank you.

I delivered this address on November 25th, 2017 to the Jamaica Institution of Engineers Annual Awards Dinner and Gala Reception under the theme: “Engineering Our Future Through Celebrating Our Heritage”

Stephen Price
Country Manager – FLOW and C&W Business (Jamaica)

Entrepreneurship

Building a Business While Working a 9–5: The Real Hustle Behind the Dream

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Starting a new business is bold. Starting one while managing a full-time 9–5? That’s a different kind of brave.

For many aspiring entrepreneurs, the safety net of a full-time job provides stability while pursuing a passion project or startup dream. But make no mistake — it takes strategy, discipline, and an honest understanding of your limits.

Here’s what I’ve learned (and am still learning) as I straddle both worlds:

1. Time Becomes Your Most Valuable Currency
With only early mornings, lunch breaks, and late nights to spare, you begin to spend time like money. You’ll learn quickly that not every meeting is worth it, not every opportunity is aligned, and not every “yes” deserves your energy.

2. Boundaries Are Everything
Your job deserves your full attention during business hours. Your startup deserves its own sacred space. Without clear boundaries, burnout is inevitable and performance can suffer — in both areas.

3. You Don’t Have to Do It Alone
Whether it’s a co-founder, a freelance designer, or a virtual assistant, small investments in support can pay off big in time and sanity. And yes, your network is a secret weapon.

4. Progress Over Perfection
You won’t launch with the perfect website, the flawless pitch deck, or a viral brand — and that’s okay. The most important step is the next one. Small, consistent progress compounds.

5. Clarity Comes Through Action
You might start your business thinking it will go one way, only to find your true niche or product-market fit halfway down the road. That clarity won’t come from overthinking — it comes from doing.

Starting a business while working a full-time job isn’t about being superhuman — it’s about being deeply committed to a bigger vision while managing your current responsibilities with integrity.

To those in the thick of the hustle — keep going. You’re not alone, and you’re not crazy. You’re building something meaningful.
If you’re in this season too, I’d love to hear your story. What’s your business? What’s working? What’s not?

Let’s connect and support each other.

Rojah Thomas Co-Founder at Kree8 Hive!
Sales & marketing maven, passionate marketer with a love for sales. With over 8 years experience in the field, I offer a refreshing new age approach to marketing with a direct focus on sales and ROI.

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Business Insights

You Can’t Fix What You Can’t See: Why Jamaica Broilers’ U.S. Collapse Wasn’t Just Financial, It Was Strategic

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A supply chain leader’s take on how weak governance, poor integration, and reactive leadership cost Jamaica Broilers billions, and what Caribbean firms must do differently.

As a Jamaican-born supply chain executive working in the United States, I’ve seen firsthand how ambition without execution can quickly become a liability. That’s exactly what happened to Jamaica Broilers Group Limited. For nearly 70 years, JBG has been a symbol of Caribbean manufacturing excellence. However, in early 2025, the company announced its first quarterly loss in history, primarily driven by a $1.15 billion loss from its U.S. operations.

Recent news articles suggest that miscalculations in valuing inventory and biological assets contributed to financial losses. As a leader in operations, financial transformation, and supply chain audits, I can state:

This was not just a financial mistake. It was a strategic failure of systems, governance, and business leadership.

The Numbers Tell the Story

Based on regulatory filings and media reports from Our Today and the Jamaica Observer, here’s what went wrong:

  • JBG admitted to using “unsubstantiated accounting valuation methodologies” affecting inventories and biological assets
  • The company expects a material restatement of U.S. earnings
  • It recorded a J$1.15 billion quarterly loss, compared to a J$1.3 billion profit the year before
  • U.S. operating profit fell from J$2.98 billion to J$922 million over nine months
  • The entire U.S. leadership team was removed, including Stephen Levy, the CEO’s brother
  • External financial advisors were brought in, and reports were delayed twice before being released

This wasn’t an isolated oversight. It was a total breakdown in the systems that connect supply chain performance to financial truth.

Where the Strategy Failed

1. Operations and Finance Were Completely Disconnected

JBG’s misstatement of inventory and biological assets tells me one thing: Finance was not operating with real-time data from the supply chain. In an asset-heavy industry like poultry, valuation accuracy is directly tied to production yields, biological input tracking, and inventory turnover. If those systems are disconnected, your balance sheet is based on assumptions.

Insight: You can’t fix what you can’t see. Real-time inventory visibility is no longer optional, especially in a low-margin industry.

2. Governance Was Passive, Not Proactive

The issues in the U.S. operation were only uncovered during a quarterly review. This means that for months, the leadership based in Jamaica had no visibility into what was truly occurring. There were no warning signs, no escalation triggers, and no governance frameworks in place to identify these missteps earlier.

Insight: Foreign subsidiaries must be governed as extensions of the enterprise, not as independent silos. Operational governance is not a meeting, it is a system.

3. No Strategic Positioning in the U.S. Market

JBG tried to enter the U.S. poultry market as a mainstream player. No diaspora segmentation. No culturally driven SKUs. No unique value proposition. That meant they were competing directly with industry giants like Tyson Foods and Sanderson Farms, with no brand edge or pricing power.

Insight: In the U.S., don’t compete on commodity. Compete on culture, value, and customer alignment. JBG ignored the Caribbean diaspora, and with it, a major advantage.

4. Overexpansion Without Standardization

JBG operated two facilities in the United States, located in Iowa and South Carolina, without a unified operational model. The systems were not standardized, and the processes were not synchronized. The resulting consequences were significant.

  • Ballooning operating expenses
  • Fragmented performance metrics
  • Reduced supply chain efficiency

Insight: Expansion is not growth unless it is built on a repeatable model. Two facilities without one process is not scale, it is confusion.

What They Still Haven’t Fixed

Despite public admissions and leadership changes, JBG has not yet addressed:

  • Whether it will consolidate operations under a single facility
  • How will it implement diaspora-driven branding and product segmentation
  • What new controls are being put in place for real-time operational audits
  • How will its ERP or financial reporting systems be upgraded

The response remains focused on personnel. But this was never just a people problem. It was a process problem.

My Recommendations for Caribbean Firms Entering the U.S.

As someone who has optimized supply chains, here is what I recommend:

1. Integrate ERP Systems Across All Operational Units

Ensure that inventory data, production yields, and cost accounting are aligned and communicate effectively with one another daily.

2. Establish Governance With Clear Escalation Protocols

Don’t wait for quarterly reports. Build monthly audits, early-warning triggers, and local compliance reviews into your operations.

3. Build With Culture at the Center

Diaspora markets are not just nostalgic, they are loyal. Own that connection with specialized SKUs and targeted marketing.

4. Standardize Before You Scale

Replicate only what works. Make sure your first location operates with precision before opening a second.

5. Tell the Truth Sooner

Market trust is built on clarity. Communicate failures transparently, and show the systems being built to prevent recurrence.

I’m not writing this to criticize JBG. I share this because I’ve witnessed this narrative repeatedly. This was a billion-dollar lesson, highlighting the need for Caribbean businesses to prioritize operational discipline over mere optimism when expanding into the U.S.

Financial breakdowns start as operational blind spots. Visibility isn’t a luxury—it’s the foundation of trust.

Jermaine Robinson, MBA, CSCP
Strategic Supply Chain Leader | Global Logistics & Distribution Leader | Driving Operational Excellence & Digital Transformation

The views and opinions expressed are those of the author/s and do not necessarily reflect the official policy or position of companies or clients for whom the author/s are currently working or have worked. Any content provided by the author/s is of their opinion and is not intended to malign any religion, ethnic group, club, organization, company, individual, or anyone or anything.

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Leadership Conversations

Why Some CEOs Resist the Concept of Buy-In

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In my years of working with CEOs during strategic planning, I’ve noticed a surprising resistance among some leaders to the concept of buy-in. To these CEOs, seeking input or engagement from employees feels like a sign of weakness. They believe leadership should be about mandating change and that buy-in dilutes their authority. This resistance, while common, often undermines the very success they aim to achieve through strategic planning.

The CEO’s Perspective on Buy-In
For many CEOs, strategic planning aims to create change—often significant, organization-wide change. They understand that change is difficult and frequently met with resistance, particularly from employees accustomed to the status quo. However, their response is often to mandate change, dismissing the need for employee involvement.

This approach stems from the belief that engaging employees in the planning process equates to surrendering control or being held hostage by their resistance. Confident in their vision, these CEOs view buy-in as an unnecessary hurdle, preferring to impose decisions with a “comply or leave” mentality.

The Case for Buy-In
My counterargument is simple yet profound: decisions are only effective if they are supported by those who must implement them. Dr. Robert Zawacki of the University of Colorado articulates this well in his book Transforming the Mature Information Technology Organisation. He argues:

Effective Decisions = The Right Decision X Commitment to the Decision (ED = RD x CD).

This formula highlights that even the best decisions will fail without the commitment of those responsible for implementing them. Commitment doesn’t arise from compulsion—it comes from understanding and shared ownership.

The Power of Participation
Engaging employees in the planning process fosters a deeper understanding and greater alignment. When employees are involved in crafting the parts of the plan that impact their work, they are more likely to accept and embrace the required changes. It aligns with the adage:

“If they create it, they understand it. If they understand it, they commit to it.”

Participation doesn’t mean ceding control; it means building a coalition of committed individuals who will champion the plan’s execution. Buy-in transforms resistance into ownership, turning a potential liability into an asset.

The Bottom Line
CEOs who dismiss buy-in as a weakness fail to see it as a tool of strategic strength. Leadership is not just about creating the right plan—it’s about ensuring that the plan succeeds. Engaging employees is not a concession; it’s a strategy for building commitment, aligning efforts, and achieving lasting change.

Buy-in isn’t just a nice-to-have; it’s the multiplier that turns the right decisions into practical actions.

 

 

 

 

 

 

Ronnie Sutherland
Managing Partner – Strategic Solutions Limited.I am a strategic planning facilitator ready to guide you through your next strategic planning process.”

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Businessuite News24

Finance Minister Highlights Middle Managers’ Key Role in Jamaica’s Economic Growth

“As Minister, I see every day how important strong leadership is to sustaining the progress we’ve made in stabilising our economy, attracting investment and opening new opportunities for our people,” Mrs. Williams said.

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Minister of Finance and the Public Service, Hon. Fayval Williams, has underscored the pivotal role middle managers play in driving Jamaica’s economic progress.

“As Minister, I see every day how important strong leadership is to sustaining the progress we’ve made in stabilising our economy, attracting investment and opening new opportunities for our people,” Mrs. Williams said.

She declared that middle managers are “the energy that gets things done” as they move their companies along, exhibiting true leadership that shapes the transformation of teams and influences the drive towards national development.

“[True leadership] is the consistent demonstration of values, authenticity and strategic focus that leaves behind a real legacy… one not written in résumés but in lives changed, organisations built, and futures secured. I know that you know that titles may grant authority, but only influence grounded in service, discipline and integrity builds the trust that moves countries like Jamaica ahead,” Mrs. Williams said.

Minister of Finance and the Public Service, Hon. Fayval Williams (second left), converses with (from left) Director, Montego Bay Chamber of Commerce and Industry, Donovan Chen-See; Managing Director, Make Your Mark Consultants (MYMC), Dr. Jacqueline Coke-Lloyd; and Bishop Dwight Fletcher, during the MYMC two-day Middle Managers’ Leadership Conference at The Jamaica Pegasus hotel on Tuesday (April 29). Mrs. Williams delivered opening remarks.

She was addressing stakeholders on day one of the Make Your Mark Consultants (MYMC) two-day Middle Managers’ Leadership Conference at The Jamaica Pegasus hotel in New Kingston on Tuesday (April 29).

Mrs. Williams noted that strategic and decisive leadership is especially critical in navigating current global uncertainties.

“In today’s increasingly dynamic global trade environment, Jamaica’s agility or ability to move swiftly, decisively and strategically is essential for national success; and at the execution level, it is you, it is our middle managers who drive that success.

You’re the ones ensuring that vision becomes reality, solving problems, coaching teams, delivering results and adapting to change with confidence and clarity,” she contended.

The Minister further pointed out, “In a Jamaica that is growing steadily stronger with sound leadership, prudent economic management, historic low unemployment rates, a transparent inflation-targeting regime, real investments in education, infrastructure, and innovation, it is clear that, as a country, we are on the right path.”

Meanwhile, Mrs. Williams lauded MYMC for organising what she described as the premier management conference in Jamaica, noting that the event is critical as Jamaica navigates an increasingly complex global economy.

She noted that this year’s conference theme – ‘A Legacy of Change, Transformation and Execution’ – is apt for the occasion.

“It reminds us that leadership is not about titles, offices, or positions. It’s about action [and] the courage to move when others hesitate. It’s about vision… the ability to see beyond today’s challenges and into tomorrow’s possibilities. Most importantly, it’s about influence – the ability to inspire people to believe in a cause greater than themselves, to push past limits to build institutions that will stand the test of time,” the Minister emphasised.

Mrs. Williams encouraged the participating middle managers to take advantage of the conference by actively engaging in the discussions, learning from the experts, sharpening their skills and strengthening their networks so they can be better and stronger leaders, driving Jamaica’s continued growth and transformation.

By: Donique Weston, JIS

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Leadership Conversations

Reinvigorating Global Growth through Productivity Reforms – Nigel Clarke

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Distinguished guests, ladies and gentlemen, good morning. I want to thank the China Development Forum for inviting me to speak today. It’s an honor to be here, especially as this marks my first visit to China since joining the IMF.

This is the Year of the Snake—a year of renewal and transformation. A fitting symbol, given the pace of change around us.

Patterns of trade and capital flows are shifting. AI is rapidly advancing. Trade is no longer the engine of global growth it used to be. Divergences across countries are widening. And governments worldwide are shifting their policy priorities.

Meanwhile, global growth is steady but underwhelming. Our five-year ahead growth forecast remains at 3.1 percent—well below the pre-pandemic average of 3.7 percent.

This is largely due to declining productivity growth. Total factor productivity, which measures the ability to create more outputs with the same inputs, has been growing at a slower pace since the 2008-09 global financial crisis.

Reviving medium-term growth

My focus today, therefore, is on how to revive medium-term growth. The path to success lies in pursuing structural reforms to raise productivity.

This applies to all countries. In ageing societies—where the share of the working-age population is shrinking—productivity growth has a vital role to play in maintaining living standards.

It also applies to emerging market and developing economies trying to close the gap with richer countries. To provide better jobs and a higher stand of living, they too need to ignite productivity growth.

Without ambitious steps to enhance productivity, global growth is set to remain far below its historical average.

So, what can we do? Let me focus on two priorities that are especially relevant for Asia.

First, innovation. We know that productivity growth increases with technological advances—advances made possible through investments in research and development, a proxy for innovation effort.

Technology transfer, scientific collaboration and policies that fund basic research can foster the kind of innovation we need for long-term growth. And can have a sizeable impact when combined with closer public-private cooperation. In fact, our research shows that productivity growth in advanced economies can increase by 0.2 percentage point a year with a hybrid policy that boosts public research expenditure by a third and doubles subsidies to private research. Because these are average numbers only, the increase could be even higher in emerging markets and developing countries.

Investments in AI are a case in point. No longer an emerging technology, AI is beginning to revolutionize industries and reshape economies. We estimate that AI could boost global GDP growth between 0.1 and 0.8 percentage points per year in the medium term, depending on how it is adopted.

Second, boosting productivity through better resource allocation. The movement of labor and capital toward more productive firms and industries has long been an important source of overall productivity growth. As workers move from farms to factories, for example, their productivity increases dramatically. So too do their income and living standards, with spillovers to the whole economy.

There are many ways countries can achieve a better allocation of resources, including by implementing policies aimed at increasing the mobility of workers, such as re-skilling programs. And more importantly, by strengthening market forces, which create the necessary incentives, through prices and wages.

Asia provides an example of how such reforms can fuel growth. Over the past few decades, Asia prospered as employment and production moved from agriculture to manufacturing. Now, the region contributes over 60 percent of global growth, and is home to some of the world’s largest, most innovative companies.

Continued success, however, requires continued reforms.

Reforms such as strengthening the private sector. Entrepreneurs drive creativity and innovation, investing in sectors with the highest returns. To create the environment they need to thrive, it’s important that there’s a level playing field between the private sector and state-owned enterprises.

For many Asian countries, including China, reforms also involve expanding the services sector.

Services are a potentially important new source of growth. The sector has already drawn about half of the region’s workers, up from just over a fifth in 1990.

And productivity in some services sectors is high. In fact, our analysis shows that Asia’s labor productivity in financial services is four times higher than in manufacturing, and it’s twice as high in business services.

China

In China, reallocating resources to services would have another important benefit: by creating jobs and increasing incomes, it could help boost consumption. A welcome goal that is also a top priority of the government.

While household consumption as a share of GDP in China has risen, it is still among the lowest compared to OECD countries. A sustained increase in consumption’s share of GDP could lead to continued rapid gains in living standards and provide a welcome lift to global demand. This rebalancing of demand also requires reforms to reduce the need for precautionary savings, especially by middle- and lower-income households.

Overall, our analysis suggests that a comprehensive package of reforms to boost consumption and lift productivity could raise China’s potential growth by about 1 percentage point per year over the medium term. That translates into a level of GDP that is close to 20 percent higher than our baseline by 2040.

The IMF’s role

Through our policy advice, lending and capacity development, the IMF has consistently supported countries in establishing macroeconomic and financial stability as a foundation for growth.

To further help in this endeavor, we have formed a new IMF Advisory Council on Entrepreneurship and Growth. The goal is to get new ideas on how countries can ease regulatory barriers, adapt tax systems to a more business-friendly environment, and incentivize long-term savings, so countries have more to spend on innovation.

In this Year of the Snake, let’s embrace change and focus on reforms and policies to revive growth. This will lead to better prospects for people everywhere.

Thank you.

Remarks by International Monetary Fund Deputy Managing Director Nigel Clarke at the China Development Forum
Beijing, China, March 23, 2025

https://www.imf.org/en/News/Articles/2025/03/23/sp032325-dmdclarke-chinadevtforum?s=03

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