Dear Editor,
An excerpt from a report from the Center for Economic and Policy Research in the United States finds that Jamaica is running the most austere budget in the world, with a primary surplus of 7.5 per cent, due to its four-year International Monetary Fund (IMF) agreement.
The end of the paper suggests: "Alternatives to IMF-imposed austerity are key if Jamaica is going to emerge from its debt trap and begin economic recovery...Perhaps most important would be debt cancellation."
I did the maths, and will share the logic and formulae with anyone who understands calculus. The only disagreement I have with the group is on debt cancellation.
There is no way way the IMF or World Bank is going to go the way of cancellation without some logical explanation. My suggestion is still reparation debt swap, which will still leave a surplus for these states.
Anyone who cares can dare to fact check this information.
Mark Trought
marktrought@gmail.com
Much ado about debt
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An excerpt from a report from the Center for Economic and Policy Research in the United States finds that Jamaica is running the most austere budget in the world, with a primary surplus of 7.5 per cent, due to its four-year International Monetary Fund (IMF) agreement.
The end of the paper suggests: "Alternatives to IMF-imposed austerity are key if Jamaica is going to emerge from its debt trap and begin economic recovery...Perhaps most important would be debt cancellation."
I did the maths, and will share the logic and formulae with anyone who understands calculus. The only disagreement I have with the group is on debt cancellation.
There is no way way the IMF or World Bank is going to go the way of cancellation without some logical explanation. My suggestion is still reparation debt swap, which will still leave a surplus for these states.
Anyone who cares can dare to fact check this information.
Mark Trought
marktrought@gmail.com
Much ado about debt
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