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"Finance Minister Audley Shaw on his first mission to Washington, made a 'first class' presentation on Jamaica's economic plan to the multilaterals in Washington, says his deputy Don Wehby, that impressed the financiers.
The team returned Wednesday.
Shaw was "excellent in dealing with the multilaterals," said Wehby, Minister without Portfolio, who accompanied the Finance Minister on the trip that also included stops in New York to meet with the top investment banks - including Bear Stearns, Deutsche Bank, Merrill Lynch, and Citibank - and rating agencies.
Even there, the reactions were positive. "The new economic team comes across as serious and knowledgeable and engaging," said Carl Ross of investment bank Bear Stearns, Thursday.
Shaw's presentation in Washington to the World Bank, International Monetary Fund and Inter-American Development Bank, covered the need for a credible debt reduction plan to reduce the cost of debt servicing, reducing the cost of electricity, the reduction of bureaucracy through ensuring an efficient, highly motivated public sector, tax reform, and aggressive investment promotion designed to create jobs.
The multilaterals, for their part, noted Jamaica's pull back from their loan programmes, but said they were positive about doing business with the island in the future, said Wehby."
"Finance Minister Audley Shaw on his first mission to Washington, made a 'first class' presentation on Jamaica's economic plan to the multilaterals in Washington, says his deputy Don Wehby, that impressed the financiers.
The team returned Wednesday.
Shaw was "excellent in dealing with the multilaterals," said Wehby, Minister without Portfolio, who accompanied the Finance Minister on the trip that also included stops in New York to meet with the top investment banks - including Bear Stearns, Deutsche Bank, Merrill Lynch, and Citibank - and rating agencies.
Even there, the reactions were positive. "The new economic team comes across as serious and knowledgeable and engaging," said Carl Ross of investment bank Bear Stearns, Thursday.
Shaw's presentation in Washington to the World Bank, International Monetary Fund and Inter-American Development Bank, covered the need for a credible debt reduction plan to reduce the cost of debt servicing, reducing the cost of electricity, the reduction of bureaucracy through ensuring an efficient, highly motivated public sector, tax reform, and aggressive investment promotion designed to create jobs.
The multilaterals, for their part, noted Jamaica's pull back from their loan programmes, but said they were positive about doing business with the island in the future, said Wehby."
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