St Kitts Makes History In Repayment To IMF and Ja borrows US$800M more

The International Monetary Fund (IMF) says St Kitts and Nevis has repaid US17.1 million to the Washington-based financial institution ahead of schedule.

The IMF notes that this is the first time that a payment of this magnitude has been repaid early to the Fund by a Caribbean nation.

http://www.imf.org/external/np/sec/pr/2014/pr14313.htm

While over in Jamaica, the media is applauding the government latest move in securing US$800M in new loans (bonds), calling in a great achievement and confidence is the government and the direction it is taking.

Seems only the PM , the Finance and those outside of Jamaica are happy with what is taking place here in Jamaica.

 

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5 Responses

  1. Seems only the PM , the Finance and those outside of Jamaica are happy with what is taking place here in Jamaica.

    How come no one in Jamaica is complaining? Badmine ago hurt your head for a long, long time.

    • No one is complaining, I guess you live outside of Jamaica too.

      • Audley did something similar back in 2011, some persons see this as a stamp of approval for this administrations, but loans must be repaid. PNP supporters are just pathetic

        • Jamaicas’ transition is a process. If some of the money borrowed is used to pay off those that attract higher interest rates, there is nothing wrong with that. What we now need is a “growth” agenda. When will you come to the conclusion that Audley Shaw is a cruel joke ?

  2. You won’t see Jay post this on his Blog, since it doesn’t involve a PNP Politician. Yet, I have said from time to time, it is government employees like Christopher Moore, that have significant impact on the finances of the Government. We now have to go after the business owners who received benefits from this fraud and paid Mr. Moore a fee for changes he made to their tax liability. I wonder how many more billions are unaccounted for due to fraud and theft? What’s your guess JayJayBrrown?

    TAJ employee in billion dollar racket remanded

    The man at the centre of the J$1 billion fraud racket was remanded when he appeared before the Corporate Area Criminal Court on Monday.

    He is Christopher Moore an employee of Tax Administration Jamaica (TAJ) and a resident of Portmore in St. Catherine.

    Moore who is scheduled answer several charges including fraud and breaches of the Cyber Crime Act, will return to court on July 21.

    It’s alleged that over an unspecified period, Moore, an Information Technology (IT) expert employed to the East Street branch of the TAJ, manipulated the system and reduced tax assessments of companies and individuals.

    After the TAJ assessed taxpayers, Moore would enter the computer system, reduce the tax levied resulting in the Government losing more than one billion dollars.

    It’s also alleged that he collected fees.

    The Revenue Protection Division in the Ministry of Finance which led an operation on June 20, seized documents and computers at Moore’s house with the names of individuals and companies.

    The year long operation, which also involved the Major Organised Crime and Anti-Corruption Taskforce, stretched across the Corporate Area and St. Catherine.

    http://rjrnewsonline.com/local/taj-employee-in-billion-dollar-racket-remanded

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