Beggin, beggin you
Photo by Heloise Bottomley.
Prime Minister Golding is putting his loving hand out to the International Monetary Fund for a loan to help Jamaica’s struggling economy.
It’s with a clear sense of desperation that he’s doing this; he’s reported as saying the factors that are leading down this path are : the markets are not lending any money, downturn in bauxite and tourism, reduction in remittances.
The last time Jamaica got help from the IMF was not a great thing. The list of conditions and strings attached, crippled the local economy through cuts in public spending which hurt the poor. Throughout the 1970’s and 80’s, the loans mounted up and growth stayed low.
Will this time be any different really? It’s supposed to be thinking differently - the IMF I mean, and they have outlined a whole new set of rules based around its’ loans. But the Director of the IMF, Strauss Kahn says that they are “helping” Jamaica with its’ new tax initiatives. Should Jamaica trust the IMF?
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Debt is a thorny issue indeed. You might not be able to survive without it but can you actually live with it?
[...] to the International Monetary Fund for a loan to help Jamaica’s struggling economy,” writes Jamaica Salt, adding: “The last time Jamaica got help from the IMF was not a great thing.” Abeng [...]
Conditionalities! Conditionalities and more conditionalities!! Is the IMF really different in its thinking today, than say twenty five years ago? Big question!! Jamaica’s relationship with the FUND during the 1970’s and 1980’s was an extremely difficult,bitter and controversial one. Will it be any different this time around if Jamaica has to return to the FUND? Time will tell!!!Nuff respect!!
Спасибо за публикацию, если есть возможность постарайтесь отобразить новые тенденции в этой теме в будущем
[...] have posted before about the IMF’s relationship with Jamaica and how disastrous it has been – see this post here. Photo by [...]
Jamaica, back to the IMF !! Apparently, the more things chane, the more they remain the same.