KINGSTON, Jamaica - SHORT OF Jamaica quitting its borrowing habit cold turkey, this newspaper is convinced that an agreement with the International Monetary Fund (IMF) is the only game in town. We also believe that given our situation, the deal that has been struck with the IMF is on the best terms that we could get. They are tough, but could have been much worse.
Jamaica
WASHINGTON, DC, USA — The World Bank has commended the Jamaican Government on recent economic initiatives, including the National Debt Exchange (NDX), to secure the recent staff-level agreement with the International Monetary Fund (IMF). "I have been listening keenly to the development in Jamaica over the last couple of days and I think what has transpired is a move in the right direction. This will help to improve the economy of Jamaica and the World Bank stands ready to assist in whatever way we can," executive director of the World Bank Marie Lucie Morin said.
KINGSTON, Jamaica -JAMAICA should step cautiously in its attempt to remove the Queen of England as head of state, as it could have adverse consequences, a special advisor to British Prime Minister David Cameron has said.
Shaun Bailey, a budding, black politician who is of Jamaican heritage, told Jamaica Observer executives and journalists yesterday at the newspaper's weekly Monday Exchange, that it would not be in Jamaica's best interest for The Queen to be removed as this north Caribbean island's head of state.
KINGSTON, Jamaica - THE Private Sector Organisation of Jamaica (PSOJ) is calling on the Government to immediately review and make changes to aspects of its new tax regime, which it said could do more harm than good to the economy. "The PSOJ is urging the Government to immediately review and change its tax treatment of certain raw material inputs under the new waiver caps imposed by the proposed IMF agreement," said the group in a release on the weekend.
KINGSTON, Jamaica - Peter Phillips' public admission twice last week - of sovereign impotence in negotiating an economic support agreement with the International Monetary Fund (IMF) - should be powerful motivation for us to finally fix Jamaica's economy. Further, the shame of the circumstance should be another reminder of the need for, if not a catalyst towards, change in our overly divisive and tribalist political discourse.
KINGSTON, Jamaica, CMC – The Jamaica government is urging the private sector to support the initiative to develop the country’s global trans-shipment and logistics hub by taking advantage of the potential investment opportunities it provides. Industry, Investment and Commerce Minister, Anthony Hylton said the development presents diverse prospects for the growth and expansion of the local business environment, and Jamaica’s economy. “This initiative… is about positioning…Jamaica as a global asset, and the fourth node in the global logistics supply network.
KINGSTON, Jamaica - The jury is still out about our Jamaican psyche. Yes, we are fun people but are we builders of civilisation, spectators or players, minstrels or masters? Are we in charge of our fate, or zombies? This IMF thing has unleashed a spirit of fear and some desperation. We seem beholden to the IMF, yet it asks no obeisance. We speak in hushed tones as if the Lord is nigh; are our leaders in thrall to a body which has no armies, navies or soldiers? no trinkets to buy us, or prisons to incarcerate us?
KINGSTON, Jamaica - THIS week, as Jamaicans brace themselves for severe belt-tightening because of the accord to be signed between the Government and the IMF, two incumbent parties in the Eastern Caribbean will be struggling to avoid becoming one-term administrations. The governments facing this survival "political cliff" — while Prime Minister Portia Simpson Miller's ruling People's National Party (PNP) struggles against its very challenging "fiscal cliff" — are those of Prime Minister Fruendel Stuart in Barbados and of his Grenadian counterpart Tillman Thomas.
KINGSTON, Jamaica, Observer- IT'S heavy — this $16 billion in new taxes being imposed on us by the Government. There is no doubt either that it will hurt most Jamaicans. After all, many of us, particularly PAYE workers, are already overtaxed. The fact, though, is that the Government has little choice, having participated in unrestrained borrowing and irresponsible fiscal policy of successive Administrations that have taken us to this sorry point in our history, with a debt of more than 140 per cent of gross domestic product.
KINGSTON, Jamaica, Observer - MINISTER of Agriculture and Fisheries Roger Clarke this week announced a $45-million crop production programme as part of the Government's drought-mitigation initiative for the sector. The programme, he said, will provide for the establishment of 645 hectares of select crops in 13 parishes to counter any shortfall in cash crops resulting from the severe dry conditions affecting the island.