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Debt burden responsible for the delay
He also believes thefailure of the Government to deal decisively with the country's $1.3 trilliondebt is the main reason for the delay in signing an agreement with the IMF.
Mr. Wan noted that theGovernment will have to show in clear terms that it has a [COLOR=blue !important][COLOR=blue !important]concrete[/COLOR][/COLOR] plan tomanage and reduce Jamaica'sdebt stock in order to prevent panic in the financial markets.
"I think we'renegotiating a medium term plan which much shows how (they're) going to reducethe fiscal deficit and reduce the debt burden. Because our debt burden isrelatively high, well over 100%, I think this could be part of the challengethe (Government) is facing coming up with a credible pathway to bring us out ofthis massive debt burden and in my view, this is what is causing some of thedelay in the IMF negotiations," Mr. Wan said.
He also believes thefailure of the Government to deal decisively with the country's $1.3 trilliondebt is the main reason for the delay in signing an agreement with the IMF.
Mr. Wan noted that theGovernment will have to show in clear terms that it has a [COLOR=blue !important][COLOR=blue !important]concrete[/COLOR][/COLOR] plan tomanage and reduce Jamaica'sdebt stock in order to prevent panic in the financial markets.
"I think we'renegotiating a medium term plan which much shows how (they're) going to reducethe fiscal deficit and reduce the debt burden. Because our debt burden isrelatively high, well over 100%, I think this could be part of the challengethe (Government) is facing coming up with a credible pathway to bring us out ofthis massive debt burden and in my view, this is what is causing some of thedelay in the IMF negotiations," Mr. Wan said.