Dear Editor,
In 1995 then Prime Minister PJ Patterson unceremoniously waved 'goodbye, ta ta, au revoir' to the board of the International Monetary Fund as his Administration "ended" the country's borrowing relationship with the fund.
It seems a cruel twist of fate that in the year 2012 the current PNP Administration is having considerable difficulties with inking a new agreement with the lending agency. With all the hysteria and uncertainty which now clouds the Jamaican economic landscape, sectors left, right and centre are all begging to be returned to the arms of the fund so as to provide for some market stability. This uncertainty is understandable. However, the painting of the IMF as a kind of divine panacea to our inflictions is wholly incorrect and totally overestimated. It should be made plain to all that regardless of what happens henceforth, Jamaica's problems must be solved by Jamaican solutions, no external third party or institution can truly address our underlying ills, and it would be good for us to face the fact that the fund really has little interest in Jamaican affairs, as such, we need to take hold of the economic rudder and seek to collectively navigate the boisterous seas.
Noel Forbes Matherson
noelmatherson@gmail.com
A cruel twist of fate
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In 1995 then Prime Minister PJ Patterson unceremoniously waved 'goodbye, ta ta, au revoir' to the board of the International Monetary Fund as his Administration "ended" the country's borrowing relationship with the fund.
It seems a cruel twist of fate that in the year 2012 the current PNP Administration is having considerable difficulties with inking a new agreement with the lending agency. With all the hysteria and uncertainty which now clouds the Jamaican economic landscape, sectors left, right and centre are all begging to be returned to the arms of the fund so as to provide for some market stability. This uncertainty is understandable. However, the painting of the IMF as a kind of divine panacea to our inflictions is wholly incorrect and totally overestimated. It should be made plain to all that regardless of what happens henceforth, Jamaica's problems must be solved by Jamaican solutions, no external third party or institution can truly address our underlying ills, and it would be good for us to face the fact that the fund really has little interest in Jamaican affairs, as such, we need to take hold of the economic rudder and seek to collectively navigate the boisterous seas.
Noel Forbes Matherson
noelmatherson@gmail.com
A cruel twist of fate
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