Now that an IMF deal is virtually sealed, what’s next ?

Can we now see the growth plan to buttress the funds from IDB, World Bank and the IMF

I am yet to see a plan that will generate sustainable growth for this country as without that we are back to square one 4 yrs from now.

I am not very hopeful at all given our poor record on implementing previous  IMF deals . IMF deals are not drafted to generate growth for the participating country, but more to ensure external creditors get paid.

 

 

Jamaica_and_IMF

 

13 Responses

  1. Jay, you are so anti-patriotic.
    Even if you are correct, what gain do you get from writing these negative sentiments. You must go and join the JLP and advise them in this way so that the PNP can stay in power for 18,000 years to come.

    You should never write these comments because always make yourself “Mr. Nobody Special”.

    You don’t really have Jamaica at heart, but just a polital campaigner and hence that makes you very selfish.

    I am watching cautiously, but I would have never expressed so negative as you.

    Anyway, why should I bother about you because you never ever have anything good to say about Jamaica.

    Why don’t you start a party and become the “Messiah” for Jamaica.
    I never ever read any about God from you.

    • There is really nothing negative about the above statement as it reflects the true reality of what we face, unless you believe falconer. I have and still have confidence in Peter Philips but getting the imf money is just part of the equation. We are still yet to hear any coherent plans to address the basis of our current bankrupt situation. Highlighting this fact is the highest form of Patriotism? Being a lackey is not?

    • Ivor Davis,

      What do you have to say about Comrade Stanley Redwood, do you believe he is patriotic or un-patriotic and like you describe me as “not having Jamaica at heart”, do you share that same view about Rev Stanley Redwood.
      We need to hear from you on this one.

  2. True patriotism hates injustice in its own land more than anywhere else.
    Clarence Seward Darro.

    Patriotism is a pernicious, psychopathic form of idiocy.

    George Bernard Shaw

    I have never been afraid to express my views and will not suppress them because someone believes silently that these views as unpopular as they may appear to be could actually be true.

    Jamaicans educated and uneducated have bought into the misguided concept that being brutally critical in unpatriotic and is an attempt to tear down one political party while elevating the other.

    Our silence is what is destroying this country, not building it and making it stronger.

    I made a post a few weeks ago and I was really hoping for persons like yourself would have commented, but as expected many have no comment until someone else has and then they are berated for those comments.

    https://commonsenseja.wordpress.com/2013/03/04/whats-working-in-jamaica/

    I looked but may have missed all your positive comments on Jamaica.

  3. “I am not very hopeful at all given that we have NEVER been able to implement any IMF deal”

    Michael Witter disagrees with you: http://jamaica-gleaner.com/gleaner/20120708/focus/focus3.html

    I quote:

    “Since 1977, seven of the 12 agreements with the IMF were cancelled because Jamaica failed some performance tests. Of the five that were completed, two required special waivers of performance tests by the IMF.”

    So Jamaica actually has implemented three IMF deals in the past in 1987, 1991 and 1992 (well 5 if you count those that required special waivers in 1984 and 1990).

    And for those who are curious, neither party has a good record on implementation of those 12 IMF agreements while in government since 1977. Under the PNP 2 were completed and 1 completed with a special waiver as against 3 that were cancelled. Under the JLP 1 was completed and 1 completed with a special waiver as against 4 that were cancelled (including 2 of which were cancelled even after being granted special waivers on the performance tests).

    Prior to 1977 there were only 2 agreements (one in 1963 under a JLP-led government which was not utilized as it was not necessary at the time; and one in 1973 under a PNP-led government which was completed and only used half of the agreed SDR quota).

    So given past experience of 3 successfully completed out of 12, it’s probably safe to say that this agreement has a 25% chance of being successfully completed without any special waivers on the performance targets.

  4. I was wrong on this one and as such will make that correct as well as add a list of all the programs that we have had with the IMF.
    So I stand corrected.

  5. We must now pass 16 IMF test in order to get all this IMF money, so now the hard work really begins.
    That is a very difficult situation and according to Ralston Hyman, if the GOJ does not get growth is this country, this country could descend into anarchy .

    Now we know why Portia bought( according to BAN) bought two bulletproof motorcars.

  6. Sometimes a lot of shiite passes for conventional wisdom. This only goes to point out that wisdom is neither conventional nor common. To the famous question; what is the growth plan of this government or in fact any government? Is that Capitalism? For the government to grow the economy. Well here come Dr. Gene Leon, the IMF’s point man in Jamaica shouting out near & far; Dr. Jay et al; you have misdiagnosed the patient! Dr. Leon said, “Jamaica’s economic challenges have resulted mainly from consumption exceeding earnings, Dr Leon underscored the need for a collective approach by stakeholders at all levels of the society.” Who is doing the consuming? The PNP? The JLP? Or is it the WE!

    • Hahaha. So who sets the framework for growth to be achieved. Its funny how when the pnp is failing its “we” but when the JLP is in power “they” failed to create plans or lay the framework for economic growth.

      We is all of us. PSM said the JLP failed to create the environment for growth to be achieve but “we” the PNP will change all that.

      KJ you guys need to come better than this. We can’t be “we” when its suits your agenda. While we become the PNP if and when growth is achieved in the economy.

      The PNP will NOT be left off the hook and least not be Jay.
      Sent from my BlackBerry® wireless device from LIME.

    • Btw the way you never really expected the IMF’s Dr Leon to say anything other than what is politically correct. Did you expect him to either call out the PNP or the JLP, hell no !

      The man is right Jamaicans are collectively responsible for where we are to due to our failure to make good decisions and the abject failure of the political directorate.

      We talk about people participation, but where does the existing system allow Jamaicans to be a part of the process in terms of the decisions being made as to the direction that the country is going or should I say , is being taken.

      So “we” are only involved in the decision making process as to who leads to country to economic growth or ruin at election time. Otherwise the “we” are out of the loop.

      The PNP has no growth plan and that is sad indeed.
      😦

      Sent from my BlackBerry® wireless device from LIME.

    • I guess you conveniently left out this part:
      ” Dr Gene Leon has commended the Government for displaying the vision to formulate a programme to resuscitate the country’s economy”

      Speaking at a public forum put on by the Micro, Small and Medium-sized Enterprise (MSME) Alliance in Kingston this week, Dr Leon said the programme represents a blueprint for Jamaica going forward

      So there indeed appears to be a plan, a blueprint, which is the question I asked. Now its time for the Government to share it with the people

      .http://jamaica-gleaner.com/latest/article.php?id=44057

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