jamaica returninn to imf

[blugiant]

<span style="font-weight: bold"> Jamaica moves a step closer to IMF return</span>


Jamaica could move a step closer today to resuming a borrowing relationship with the International Monetary Fund (IMF).

The finance minister Audley Shaw, is to submit a document to the Cabinet this morning outlining the Government’s framework for a possible return to the fund.

Jamaica had a borrowing relationship with the IMF from the 1970’s to the mid 1990’s when Prime Minister P.J. Patterson brought it to an end.

But last week the finance minister said Jamaica was facing the possibility of being unable to finance its 555.7 billion budget.

He said the fallout in the bauxite sector has significantly affected the Government’s revenue generating prospects.

Mr Shaw said the IMF has received close to US$700 million from industrialized countries to help developing countries like Jamaica.

There have been concerns that Jamaica’s return to the IMF may be bad for the country.

But the finance minister said Jamaica would not enter into an agreement that will be counterproductive to its social and financial sectors.

He also said the IMF has assured that it will use Jamaica’s performance indicators, with other multinational organizations like the Inter-American Development Bank to form the framework of its loan requirements.

..

[blugiant]

Re: jamaica returninn to imf

bruce must go

time fii a new prime minister wey can bettar fiscallee manage jamaica ecanamee. bruce ann imm peeps a run deficit guv soo dem affii barraw fii meet jamaica abligateshan

[uswe]

Re: jamaica returninn to imf

What about the mis-management of the economy by the previous administration? They left the Jamaica with a J$billion dollar debt and the 3rd most indebted country in the world.

[RichD]

Re: jamaica returninn to imf

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: blakkgiant</div><div class="ubbcode-body">bruce must go

time fii a new prime minister wey can bettar fiscallee manage jamaica ecanamee. bruce ann imm peeps a run deficit guv soo dem affii barraw fii meet jamaica abligateshan </div></div>

dis mek me laff


so di last gov an di one before never haffi borrow?

one of the problems they facing is that the previous go in a effort to avoid the IMF and world bank was very successful at borrowing at higher interest rates..now they paying for it.

[uswe]

Re: jamaica returninn to imf

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: blakkgiant</div><div class="ubbcode-body">bruce must go

time fii a new prime minister wey can bettar fiscallee manage jamaica ecanamee. bruce ann imm peeps a run deficit guv soo dem affii barraw fii meet jamaica abligateshan </div></div>

dis mek me laff


so di last gov an di one before never haffi borrow?

one of the problems they facing is that the previous go in a effort to avoid the IMF and world bank was very successful at borrowing at higher interest rates..now they paying for it. </div></div>

Plus the banks who seem all to willing to lend you money to buy a SUV, but less willing to lend to companies to enable them to grow their businesses. They kill you with bank charges, invest in government paper, sit back and collect their guaranteed money. Take away these two factors and how really profitable are Jamaican based banks?

[Dr.Dudd]

Re: jamaica returninn to imf

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: blakkgiant</div><div class="ubbcode-body">bruce must go

time fii a new prime minister wey can bettar fiscallee manage jamaica ecanamee. bruce ann imm peeps a run deficit guv soo dem affii barraw fii meet jamaica abligateshan </div></div>

dis mek me laff


so di last gov an di one before never haffi borrow?

one of the problems they facing is that the previous go in a effort to avoid the IMF and world bank was very successful at borrowing at higher interest rates..now they paying for it. </div></div>They did not qualify for either multinationals.
what the multi's were doing is lending to provate sector withgovernment gurantees under the IFC division.
So they borowed, but for the private sector. NBC and LeeChin and a few more did The water commission wanted to do it and then transter to private ownership, but that had some resistance. INF only loan for foreign exchange support.
Jamaica had mor than enough reserve. Tothe point where your friend Motty was always complaining that they were using it to support the Jamaican currency. like that is not a appropriate use if it. With the involvement with the IMF thesector that will lose most will be the workers. They will see the value of their incomes reduced drastically. And it will eventually lead to either a change of government or riots that will make Iran lok like a school tard fight.

[Dr.Dudd]

Re: jamaica returninn to imf

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: uswe</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: blakkgiant</div><div class="ubbcode-body">bruce must go

time fii a new prime minister wey can bettar fiscallee manage jamaica ecanamee. bruce ann imm peeps a run deficit guv soo dem affii barraw fii meet jamaica abligateshan </div></div>

dis mek me laff


so di last gov an di one before never haffi borrow?

one of the problems they facing is that the previous go in a effort to avoid the IMF and world bank was very successful at borrowing at higher interest rates..now they paying for it. </div></div>

Plus the banks who seem all to willing to lend you money to buy a SUV, but less willing to lend to companies to enable them to grow their businesses. They kill you with bank charges, invest in government paper, sit back and collect their guaranteed money. Take away these two factors and how really profitable are Jamaican based banks? </div></div>In any econoomy that there is the absense of <span style="font-weight: bold">unemployment insurance</span>, the banks will not take that much risk inth eproductive sector. since if people lose their jibs and default,even siezing the collateral may not be able tocompensate for thelosses. since the abillity to resale those seized assets in a depressed market may not be feasable.