IMF says its deal with Jamaica cannot be re-negotiated !!

This effectively means that should the PNP win the next election it will have no choice but to continue with the current standby deal the JLP signed with the IMF.

But with the deal which comes to end in the next 3 months, there is really nothing to re- negotiate.

At the same time IMF say the GOJ says the must put its house in order if it must continue to get more money from the IMF and other multilateral organizations.


9 Responses

  1. Saw the report, the IMF rep speaking at a JCC event said the IMF deal cannot be “re” negotiated. He said that would not be exactly the correct term. They could however enter into a new arrangement or extend the current one.

  2. There is no such thing as a non-negotiable deal, period.

    • I agree! The way things stand right now, the original “deal” is pretty much dead in the water and significant amount of the funds have not been disbursed per the original agreement. So the operative question is: what happens to the remaining balance?

      The IMF Jamaican representative seems to be picking sides when certain declarations are made, especially challenges to the Opposition’s position that “they” would “re- negotiate” the terms of the existing agreement. The IMF over the past few years have become intertwined into the Ministry of Finance, leading some to believe they are the one running the MOF. Has this symbiotic relationship become too dangerously close to the point where they are indistinguishable? Have the IMF Jamaican-designate become a cheerleader for the current administration?

  3. Is Mr Gene Leon, the IMF representative in Jamaica, talking too much? His TVJ interview previously and this latest speech make me wonder. Is he exerting any influence subtly or otherwise?

  4. I believe Dr. Leon also indicated that the last review period would be December so they need a plan from the Govt by year end. Failure to do so may result in the inhibition of disbursement of funds from the 1.3 billion agreement.

  5. Warren’s Blog:

    Your clock apparently needs to be reset. It’s not yet November 27.

  6. I think the PNP must have meant ….They will have to enter into a new arrangement with the IMF and or other multilateral organizations if and when they come into power?

  7. Did Mr Leon said that we cannot boast 10% growth when the social things are not done, he also said that we cannot talk about 10% growth when is only .5% people see that growth. One would believed that Jay dont listen to the speech hence he only pick out the part about renegoitiation isnt that something but thank God we cannot be fool again by half truth and selective memories we are living in information age the speech is right at our finger tip.

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