Over the past year it's reported that Jamaica's stock market has ranked at the top, considered to be one of the world's best performing markets.

Several years ago, the IMF and Jamaica entered into a $2bn agreement and it's believed that strict adherence to that program is what has now turned the market around.

At the recent 28th Annual Caribbean Water and Waste Water Conference, chief executive officer of NCB Capital Markets, S. Gooden, encouraged other Caribbean countries to follow in Jamaica's footsteps to turn their own markets around.

Among the changes the Jamaican government has made includes making moves to divest state-owned infrastructure assets, giving Jamaican people the chance to invest and purchase a part of various assets.

Jamaica has managed to push debt to GDP below 100 percent for the first time, sitting around 96 percent in early 2019, making that the first time to go below 100 in almost 2 decades.

As the Financial Times has reported, the Jamaican stock exchange is considered to be one of the best-performing right now in the world, over the last 12 months.

Total gains over the past 5 years are said to have grown to more than 600 percent. Now that they are looking to further embrace the cannabis market for medicinal research and development, as well as tourism etc, that could easily contribute a great deal more to the continued growth.

It's expected that this region will continue to see growth in the coming years along with a decline in government debt.

“The Jamaica Stock Exchange is the best-performing stock exchange in the world, out of 92 other exchanges. We have moved from over 117,000 account holders in the last three years, to 261,000 account holders, an increase of 85 per cent,” - managing director of Jamaica Stock Exchange (JSE), M. S. Forrest

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This is not to be considered financial advice and is posted for information purposes only.

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