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The Tivoli development model will be proliferated.....We are doomed.
IMF deal delayed
Published: Monday | November 16, 2009
THE DEADLINE for the Jamaican Government to wrap up a multibillion-dollar deal with the International Monetary Fund (IMF) has been pushed back to December, Prime Minister Bruce Golding has revealed.
The latest disclosure, during a joint meeting of Labour's Area One Council and West Kingston constituency Sunday evening, adds fuel to the fire of speculation - stoked by both political rivals and financial analysts - that the Government is having major problems forging an accord with the lending agency, because of perceived repercussions to the national Budget.
Golding last night emphasised that despite the budgetary support sought from the IMF, the primary role of stimulating the economy - through the reduction of interest rates, and job creation - still rested in the lap of Government.
Since the announcement that the Government was seeking a US$1.2-billion ( Roughly J$100-Billion) standby agreement with the IMF, the goal post has been moved several times - first to October, and later, November.
Finance Minister Audley Shaw said, last month, that there would be tough conditionalities imposed on the country but stressed that such terms would be geared towards charting a path to economic recovery and growth.
Model constituency
Meanwhile, Golding last night held up his West Kingston constituency as a model political centre which served as a template for parliamentary leaders nationwide.
"The days of tribalism and war are behind us and the transformation of West Kingston is taking place. No battle lines are drawn and people can go where they want to," the prime minister, who is the parliamentary representative for West Kingston, said of the metamorphosis of the area - mainly under former party leader Edward Seaga - which was once the battleground of feuding gangs and political rivals.
Golding said West Kingston was a small subplot of Government's wider playbook for a wide-scale renewal of the capital's downtown business district, by wooing enterprises to move house from expensive domains uptown.
The Tivoli development model will be proliferated.....We are doomed. IMF deal delayed
Published: Monday | November 16, 2009
THE DEADLINE for the Jamaican Government to wrap up a multibillion-dollar deal with the International Monetary Fund (IMF) has been pushed back to December, Prime Minister Bruce Golding has revealed.
The latest disclosure, during a joint meeting of Labour's Area One Council and West Kingston constituency Sunday evening, adds fuel to the fire of speculation - stoked by both political rivals and financial analysts - that the Government is having major problems forging an accord with the lending agency, because of perceived repercussions to the national Budget.
Golding last night emphasised that despite the budgetary support sought from the IMF, the primary role of stimulating the economy - through the reduction of interest rates, and job creation - still rested in the lap of Government.
Since the announcement that the Government was seeking a US$1.2-billion ( Roughly J$100-Billion) standby agreement with the IMF, the goal post has been moved several times - first to October, and later, November.
Finance Minister Audley Shaw said, last month, that there would be tough conditionalities imposed on the country but stressed that such terms would be geared towards charting a path to economic recovery and growth.
Model constituency
Meanwhile, Golding last night held up his West Kingston constituency as a model political centre which served as a template for parliamentary leaders nationwide.
"The days of tribalism and war are behind us and the transformation of West Kingston is taking place. No battle lines are drawn and people can go where they want to," the prime minister, who is the parliamentary representative for West Kingston, said of the metamorphosis of the area - mainly under former party leader Edward Seaga - which was once the battleground of feuding gangs and political rivals.
Golding said West Kingston was a small subplot of Government's wider playbook for a wide-scale renewal of the capital's downtown business district, by wooing enterprises to move house from expensive domains uptown.
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