Jamaica's continued failure..Predicted by Is Manley Fault

[Don1]

Jamaica among lowest growers over next 5 years - IMF


Thursday, October 15, 2009
Jamaica is expected to have the fourth lowest growth rate and fourth highest inflation rate of developing countries in the western hemisphere within five years according to the International Monetary Fund (IMF).
In its World Economic Outlook released this month, the IMF projected Jamaica's economic growth at only 2.1 per cent in 2014, which comparatively is the fourth worst among the 32 developing nations in the western hemisphere.

Venezuela is expected to have the lowest growth rate at 0.4 per cent whilst Panama is expected to have the highest growth rate at 6.5 per cent in that year.

Jamaica's low growth will cause it to drop from sixth to the fifth worst among the 32-nation group between 2009 and 2010. Interestingly, Jamaica's growth in 2014 is expected to be half the average growth of the 32-nation group at four per cent.

Over the last five years these developing countries of the western hemisphere grew four times as fast as Jamaica up to 2008.
At the same time, Jamaica is expected to have the second and fourth highest consumer price index rises amongst the 32 developing nations in the western hemisphere in 2010 and 2014 at 8.7 per cent and 6.2 per cent respectively.

Venezuela tops the 32-country list with inflation of 32 per cent and 33 per cent respectively. The country with the lowest price index movements is expected to be Bahamas with inflation of 0.2 per cent in 2010.
The IMF noted that developing economies are showing signs of recovery from the global downturn.

"Emerging and developing economies are further ahead on the road to recovery, led by a resurgence in Asia - in general, emerging economies have withstood the financial turmoil much better than expected based on past experience, which reflects improved policy frameworks. However, gains in activity are now being seen more broadly, including in the major advanced economies. Financial market sentiment and risk appetite have rebounded, banks have raised capital and wholesale funding markets have reopened, and emerging market risks have eased," said a joint note by Jose Vinals and Olivier Blanchard of the IMF.

"The triggers for this rebound are strong public policies across advanced and emerging economies that, together with measures deployed by the IMF at the international level, have allayed concerns about systemic financial collapse, supported demand, and all but eliminated fears of a global depression credit supply is even more bank-dependent.
Bank balance sheets have benefited from capital-raising efforts and positive earnings reports but will remain under pressure as a result of continuing credit deterioration."




Now dat Babylon and not Don1 seh so.... can the JLP/PNP tribalists see that...JAMAICA NEEDS A NEW WAY.....DESPERATELY.

How we operate now is NOT working....and worse...WILL NEVER WORK.

Even the blind should be able to see this.

[Muadib]

But mi nuh unnastan... Jamaica doubling its relative performance !

Dat is good news !

"Over the last five years these developing countries of the western hemisphere grew four times as fast as Jamaica up to 2008."

Based on this by the 3rd Term of the JLP Jamaica should be quadrupling it relative performance under the PNP.

Impressive !

[Willi]

Well, what is the way forward.

You have an obstructionist Opposition that is petulent and eager to "pay back the JLP" for its own obstructionist past. Then you have a JLP, struggling to find its own way of governing, still relying on the failed PNP policies.

We need to start with a Govt that is bold and unafraid to lead and a humbled opposition that needs to purge itself of the parasitic tendencies it has developed over decades. When we see tangible evidence of these developments, then we can assume we are mature enuff to create social pacts. At the mements, these parties dont seem to feel any undue pressure to move forward on this. They still are under the illusion that the old games can still be played. Financial reckoning day is just around the corner!

[Don1]

Well, what is the way forward.

You have an obstructionist Opposition that is petulent and eager to "pay back the JLP" for its own obstructionist past. Then you have a JLP, struggling to find its own way of governing, still relying on the failed PNP policies.

We need to start with a Govt that is bold and unafraid to lead and a humbled opposition that needs to purge itself of the parasitic tendencies it has developed over decades. When we see tangible evidence of these developments, then we can assume we are mature enuff to create social pacts. At the mements, these parties dont seem to feel any undue pressure to move forward on this. They still are under the illusion that the old games can still be played. Financial reckoning day is just around the corner!

You put the cart before the horse in expecting nationalistic leadership from a Jamaican Opposition party. Apart from Norman Manley...you will not see that.... suh figget dat.

Leadership in Jamaica starts and stops at the top....with the PM...im ah di Big Man... im set di tone....period.

As to solutions.....

As I forever maintain...Jamaica has its policy priorities backward. Our financial problems are primarily the results and symptoms of our social dysfunction...not vice versa.

No amount of tinkering on the fiscal & monetary side or balancing of the books will take us where we need to go in terms of real progress.
The script needs to be flipped.

We need to spend the next 10 years minimum.....cooperatively building social capital....responsibly but on an equal footing with fiscal matters.... i.e. through a binding, publicly discussed, all sector, social agreement or road map.

That is what I refer to as the New Paradigm of Governance. One may say it is untried and uncertain... but almost anything is better than the crap we have now.

Only when we figure out the social equation will the country have a chance to see some positive changes. Manley tried...but made an almighty mess of it through stupid political games.

Unfortunately it is now too late...Golding has frittered away his early political capital with nonsense talk...termites and the like...and with naive inaction regarding the world crisis.

Golding has totally blown his chance to make a difference...at least in this term. He needed to make dramatic moves from Day 1. Perhaps he should call an early election and try for a "do over".

Now the PNP is gaining strength and the JLP is treading water...worse by next year preparations for the next electoral silly season will begin in earnest... few worthwhile things will get done and there will be zero chance for the required political cooperation to move forward.

Even the ballyhooed public sector cuts I expect will fall victim to electoral considerations..... I expect mostly window dressing.


Some people need to have either foreigners or their tribal leaders tell them where Jamaica is headed before they take notice......as it continues heading nowhere under the present regime.

I see the usual tribal suspects & GOJ touts on this forum are remarkably silent to date on this matter of the IMF's negative prognostications on growth ...except for the expected and predictably inane commentary above from the sycophant in chief.

Selah.