Audley 1/3rd Shaw making good with his promise

[Assasin]

what you not talking bout is how they get the money fi close Air Jamaica?

Not only was the debt high under Omar but the balloning interest that was been paid could only be done in the short term by by more borrowing and talking care of it, plus the fact that they were in a recession with no income from Bauxite, a huge drop in remittance and tax collection.

Now finally the tide is turning and we are heading in the right direction. hopefully we will have some investment and growth in GDP so we can move forward.

It was either an injection in loan from the multilateral or defaulting on our loans. The only thing I am not too certain about is like you the road mantaenance from China as I see it as a political job making loan. Watch how many Tivolites a go work pon the airport road now.

[Assasin]

"whoever else "

What you mean by that? wrong words.

[Me]

The debt stock increase is significant, but attributing 60% to them is rather silly when it includes fx fluctuations.

[Don1]

The debt stock increase is significant, but attributing 60% to them is rather silly when it includes fx fluctuations.

attributing 60% to "them" is silly?? The debt either increased in the ballpark of 60%...or it didn't.

If as Willi suggests a huge part of the increase is an unbooked overhang from prior years that's a different matter...that matter has to be established by hard data...

[Me]

I guess if fx changes caused the debt to increase by 100% you would say it is their additional borrowing that caused it.

[Don1]

Assasin;250681]what you not talking bout is how they get the money fi close Air Jamaica?

this is quite a mysterious point

Not only was the debt high under Omar but the balloning interest that was been paid could only be done in the short term by by more borrowing and talking care of it, plus the fact that they were in a recession with no income from Bauxite, a huge drop in remittance and tax collection.

Weak.
If the new loans were to address older higher cost loan ...then the debt STOCK would not increase significantly...since the higher cost loans would be retired & replaced.

Yes there was a big drop in FX earnings...but more than made up by a huge USB+ drop in oil import costs...somthing no one mentions...as oil prices dropped by 60% or so from $140/barrel to $50-60/barrel

There was no "huge" drop in remittances... what was that 10%?

What saved many Jamaicans ..as always...was the informal economy

Now finally the tide is turning and we are heading in the right direction. hopefully we will have some investment and growth in GDP so we can move forward.

Have dealt with that highly misunderstood issue of GDP growth vs real development already

It was either an injection in loan from the multilateral or defaulting on our loans. The only thing I am not too certain about is like you the road mantaenance from China as I see it as a political job making loan. Watch how many Tivolites a go work pon the airport road now.

There's a big disconnect between a threat of default in 2008/2009 and running up the country's debt by 60% in 2.5 years...with nothing on the ground to show.

It seems most of that debt was designed to prevent a run on the currency.

If the "only" thing you are concerned about is the road maintenance election slush fund/JLP crash program.... some surprises await you.

[Don1]

nope the fx changes would cause that...but in the instant case what proportion of the debt increase (approx) was caused by FX movements?

[Me]

External Debt Stock increased by 25% and local by 40%.

[Don1]

still don't know the breakdown of the change in debt profile... what % of increase in stock was due to FX rate movements vs new borrowing?

not trying to be argumentative...just trying to get the specific info..

[Me]

Here is the website for the Debt Management Unit that displays their numbers for external and domestic. You can do the math.

http://www.mof.gov.jm:8080/dmu/defau...1100&page=1103

[Don1]

thanks boss

[Exile]

Well done. I salute your patience...I have long since stop trying to argue objectively on the misrepresentations of the Jamaican economic-politics.

[Don1]

Well done. I salute your patience...I have long since stop trying to argue objectively on the misrepresentations of the Jamaican economic-politics.

I guess wi haffi wuk wid whey wi ave... ar as Rumsfeld put it

You fight wars with the army you have...not with the army you want

[Exile]

Good point...will have to tell my HR Manager that...LOL.

[Assasin]

and???