KINGSTON, Jamaica – It is generally accepted that for small developing countries, like Jamaica, who are in severe economic difficulties, there are few, if any, alternatives to the policy stipulations of the International Monetary Fund (IMF).
Even traditional political allies such as America, Britain and Canada will not provide certain critical financial assistance without the IMF's vaunted seal of approval.
The reason for this stance is the assumption that the IMF is a pool of economic expertise with wide-ranging experience across a variety of countries and is best placed to instruct developing countries on what they should and should not do.
