PNP are so bad that they have been able to mismanage even mismanagement.
Dr Omar Davis forward sold bauxite at a fixed priced to Glencore, which has resulted in a burden on Tax payers of close to $32B, between 2002 , when that agreement was signed and now.
This is not a likke mistake, this is a monstrous blunder by the former PNP finance Minister who amazingly is still an elected member of the house of representative.
If one should take the losses that the country faced during Dr Davis stewardship as the finance minister and this, we would have seen accumulated losses of $150B, which can be attributed to this man.
What a great steward he has been and has been rewarded with victory after victory and a new position to cost tax payers even more.
Only in Jamaica could this have occurred 😦
Filed under: Economics |
Warren's Blog 
If you area is not economics, then leave it alone. Forward sales would be based off some forcast. some will go your way, some won’t. Remember Omar Davies crafted a plan that led us away from the IMF.
Cullcull, Can you imagine how good a job he did in forecasting the future price of the commodity. The guys who purchased the futures ( as they are called), would you not say they were very smart. They were able to hedge their bets on the future price of the commodity being much higher than the priced they locked Jamaica into, when the contract was signed in 2002
In the end they gained $30B, while Jamaican lost an equal amount.
I guess you are correct Omar, crafted a plan to get us away from the IMF and less than a year after leaving office we were back in the arms of the IMF.
I am sure you would want us to believe that Dr Davis created a great plan.
Like all his plans, they all failed and you and I continue to pay for his great mistakes.
I am certainly not happy to pay for someone’s mistakes, but you and other seem all to happy to pay.
Now is that not sad 😦
PNP is right screw Jamaicans they will be happy.
Jay do not waste your time on people who do not think. They keep saying that the PNP left the IMF in 1995, but there was no programme for fiscal consolidation and that’s why the jlp had to return to the IMF again, the administration of the 90s presided over the largest period of waste in this country and their supporters have the audacity to tell us that they left the IMF when after leaving the IMF, there was no reform programme
Apparently you are the only individual capable of being a thinker. Your documented arrogance is astounding. The demonstrated fact is you are actually incapable of anything resembling being an original thinker. All you have shown on this blog is the ability to regurgitate the ideas, opinions and policy positions of others. Clearly, you should be the last person pointing fingers at individuals more highly capable than you of not being able to think. You Lipton is so far down the totem pole of knowledge to be labeled an insignificant troll.
Please present something useful to the discuss, if you are capable of doing so.
Let’s ask, do you believe that the people of this country should be satisfied with this major blunder?
Do you believe you should be asked to fork out of you hard worked earnings money to pay part of the $27b DEBT ?
Are you comfortable the the past and even present decisions of this minister?
We would like to hear your original truthful thoughts.
Bless
Was that your excuse for incompetence?
Anonymous, this blog cannot determine who is a thinker and who is not because it does not encourage thinking, on this blog individuals only engage in cheap political commentary, we never analyze policy issues and provide suggestions. But it does indicate the people who notwithstanding their education , are still unable to identify nonsense