Full Video: The Cost of Corruption... Jamaica's Barrier to Prosperity

[RichD]

This first link I could not access and the second seems to be dealing with Jamaica depleting its drawing rights in a poverty reduction fund that the IMF funded.

spend a little time and explore the IMF site and get a fuller understanding of Jamaica's dealing with the fund and the numbers involved.

[franksterr]

yuh is a real joker. you nuh know by now that the media is not vested in accuracy? I prefer to trust my own research from primary sources

So you say the are lying?

here is a link to the jamaica ministry of finance debt management unit summary page
http://dmu.mof.gov.jm/public/20111026hseries97-10.pdf

Same thing can not access.....the point is Jamaica Owes in excess of 18 billion dollars in debt and it all began with the IMF/world bank in the late sixtes early 70's....and western lending organization are the creditors.

they have a line for how much is owed to IMF

let me know if you have any questions with the interpretation

Okay lets say the gleaner a lie and the so is the BBC - so its your argument that we only owe 500 million?

[RichD]

So you say the are lying?




Same thing can not access.....the point is Jamaica Owes in excess of 18 billion dollars in debt and it all began with the IMF/world bank in the late sixtes early 70's....and western lending organization are the creditors.



Okay lets say the gleaner a lie and the so is the BBC - so its your argument that we only owe 500 million?

yuh working hard at being obtuse.

i have not disputed the 18 billion ..if you look back you will see where i also quoted that number.

you suggested that the reason for the problems was the conditions on loans made by lenders like the IMF ..i was simply pointing out that the vast majority of the money owed is not to the IMF and is based on loans( bonds floated in the European and US private capital markets as well as the domestic capital markets) where no conditions were attached. and that saying is because the IMF screw us up is too simplistic.

[franksterr]

yuh working hard at being obtuse.

i have not disputed the 18 billion ..if you look back you will see where i also quoted that number.

No...I did not see it.

you suggested that the reason for the problems was the conditions on loans made by lenders like the IMF ..i was simply pointing out that the vast majority of the money owed is not to the IMF and is based on loans( bonds floated in the European and US private capital markets as well as the domestic capital markets) where no conditions were attached. and that saying is because the IMF screw us up is too simplistic.

It started with the IMF/world bank.

European or US private capital is all the same to me, as it is usually the same people running those organization with the same intent just a change of name.

[RichD]

the point is Jamaica Owes in excess of 18 billion dollars in debt and it all began with the IMF/world bank in the late sixtes early 70's....and western lending organization are the creditors.

so you don't think a good portion of it is to china too?

just a bit over 50% of the $18 Billion is owed to Jamaicans and Jamaican institutions.

[franksterr]

do you know what the Jamaica debt exchange was? and do you understand the IMF standby agreement role in it?

No tell me

[RichD]

European or US private capital is all the same to me, as it is usually the same people running those organization with the same intent just a change of name.

so when your financial advisor suggest you buy into the latest Jamaican bond issue is because he know you share the IMF intent?

[franksterr]

so you don't think a good portion of it is to china too?

The last time a check china;s loan to jamaica has not excceded a Billion US

just a bit over 50% of the $18 Billion is owed to Jamaicans and Jamaican institutions.

I have no reason to believe so....bring the facts?

[RichD]

No tell me

the gov of Jamaica hd issues some domestic bonds paying 19 - 23.5 % which were maturing in 2012/2013 they decided that in order to reduct their interest obligations they woudl rather than default on the bonds replace them with something like 9.5% bonds which would not mature until later

the 800M standby agreement provided by the IMF gave local financial institutions (who were the main holders of these bonds) a sense on security so that they would agree to this exchange. if you look at the IMF numbers you will see that they did not draw the entire 800M approved.

[franksterr]

so when your financial advisor suggest you buy into the latest Jamaican bond issue is because he know you share the IMF intent?

If he does is because he knows IMF approves.

These Western institution all act in concert and tandem.....If Moodies etc gives Jamaica low creditworthiness, believe me the vast majority of financial advisors will not recommend their clients to buy Jamaica's bonds

[RichD]

The last time a check china;s loan to jamaica has not excceded a Billion US



I have no reason to believe so....bring the facts?

where did you check the Jamaican debt to China?


i pointed you to the debt managment unit of the Jamaica ministry of finance...i'm sure you can navigate the page

[franksterr]

the gov of Jamaica hd issues some domestic bonds paying 19 - 23.5 % which were maturing in 2012/2013 they decided that in order to reduct their interest obligations they woudl rather than default on the bonds replace them with something like 9.5% bonds which would not mature until later

This serves to show the importance of having a good credit ratings....doesn;t it?

the 800M standby agreement provided by the IMF gave local financial institutions (who were the main holders of these bonds) a sense on security so that they would agree to this exchange. if you look at the IMF numbers you will see that they did not draw the entire 800M approved.

In a sense the bonds are being underwritten by the IMF, which brings up their creditworthiness...

Give me something that I can chew on in terms of the 50% local bonds purchases

[franksterr]

where did you check the Jamaican debt to China?

going off memory, so was hoping you had more recent and hard data


[/quote]i pointed you to the debt managment unit of the Jamaica ministry of finance...i'm sure you can navigate the page[/QUOTE]

can not access the site, everytime I try my laptop freeze - not good

[RichD]

going off memory, so was hoping you had more recent and hard data

i pointed you to the debt managment unit of the Jamaica ministry of finance...i'm sure you can navigate the page[/QUOTE]

can not access the site, everytime I try my laptop freeze - not good[/QUOTE]

it has a lot of good information

breaks down domestic and external debt by year ...other pages show the bond issues maturity an interest rates.

[franksterr]

i pointed you to the debt managment unit of the Jamaica ministry of finance...i'm sure you can navigate the page

can not access the site, everytime I try my laptop freeze - not good[/QUOTE]

it has a lot of good information

breaks down domestic and external debt by year ...other pages show the bond issues maturity an interest rates.[/QUOTE]

Since you can access it tell me what it says, in regards to china/Jamaica loan size/amount?