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Jamaican Parliament passes laws to constrain public spending

It has been reported that Jamaica’s House of Representatives has decided to pass amendments to its legislation in order to curb its spending. This step has been taken with the aim to pass its fourth IMF quarterly test. The Public Bodies Management and Accountability (Amendment) Act and the Financial Administration and Audit (Amendment) Act will avert any attempt by the government from arbitrarily running up the country&;s debt. The national debt has risen to J$1.9 trillion.