Jamaica
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EDITORIAL – The other side of the IMF agreement
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…
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World Bank commends Jamaican Gov’t
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…
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Keep The Queen – Advisor to British PM urges Jamaica
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,…
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PSOJ warns of massive job losses
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…
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EDITORIAL – Poor economics, sovereign impotence
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…
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Private sector urged to invest in new global trans-shipment project
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…
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The IMF, VW advert; CSME and the private sector
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…
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Sacrifice demands that Gov’t lead by example
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…
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$45-m crop programme to help counter effects of drought
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…
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