Audley 1/3rd Shaw making good with his promise

[Muadib]

hear seh him borrow US$200 Million at 1.5%.

I remember Omar boasting about borrowing money at 10%. To the applause of the minions... now.. silence..

Now the spin angle is 'too much borrowing'...

Read 'em and week Comrades.

http://www.jamaicaobserver.com/busin...-Shaw-_7876331

The unthinking 'white rum' faithful I can excuse.. the one's that claim dem guh school and all get degree.. well.. they have none.

18 years of support of suicidal policies cannot be forgiven.

Punishment shall be 'No Yapping' during the recovery exercise led by Drivah and 1/3rd.

Y'all know who you are.

[Exile]

Wow! Wasn't it Butch that said too much borrowing? At last someone to solve Jamaica's economic problems...

[Lazie]

Wow! Wasn't it Butch that said too much borrowing? At last someone to solve Jamaica's economic problems...

What I find strange was that his response to Butch didn't get much attention. I wonder why?

[Muadib]

Here is a challenge.

Try and recall any such statement from Butch between 1989 and say 2002.

Butch more concerned about WHO we borrowing from and the discipline being enforced.

2 months time Butch smiling again when him get him waiver...

[Me]

In our current situation, we have to borrow.

So big up to Shaw for following through with his promise to get low interest rate loans, especially considering that most laughed after him when he first said it.

Many celebrated, particularly the business media personalities, when Omar was "accessing the capital markets" and "diversifying our investor base" with his Eurobonds and floating rate instruments. Shaw is doing a much better job than that, so lets hope he gets his credit.

After his silly statements on the impact of the global economy on Jamaica, he has done very well.

[Assasin]

dem nuh see that. A few months ago Butch was singing Barlett praises. His son Adam came out and say the concession was great for business and then Bartlett and Bruce them bundle up the concession and Butch get mad.

Is like them nuh know a who name Butch.

[Exile]

Yes, and a few months ago Maudib was worshiping Butch. Couldn't do no wrong..only hv white managers.

[Don1]

Yes, and a few months ago Maudib was worshiping Butch. Couldn't do no wrong..only hv white managers.

JLP tribesmen tend to love di white man sintin...part ah di reason why dem is di "minority" party inna Jamdung..LoL!

[Don1]

In our current situation, we have to borrow.

So big up to Shaw for following through with his promise to get low interest rate loans, especially considering that most laughed after him when he first said it.

Many celebrated, particularly the business media personalities, when Omar was "accessing the capital markets" and "diversifying our investor base" with his Eurobonds and floating rate instruments. Shaw is doing a much better job than that, so lets hope he gets his credit.

After his silly statements on the impact of the global economy on Jamaica, he has done very well.

He has made some good moves...JDX for example... but a 60% increase in overall debt stock in less than 3 years is NOT good...especially when there is zero addition to the productive capacity.... just housekeeping

[Willi]

He has made some good moves...JDX for example... but a 60% increase in overall debt stock in less than 3 years is NOT good...especially when there is zero addition to the productive capacity.... just housekeeping

True, but you must forget that Omar left Massive off-balance sheet obligations that have been formally incorporated into the Govt official books now. The true increase is much less what that is factored in.

Let us never forget the true EVIL that Omar brought down on us (JLP/PNP and no P will suffer for years because of this, so it really is not partisan). People ignore that because they dont really understand and Omar played on that.

[Don1]

Not forgetting Omar...just noting the truly MASSIVE increase in debt under this regime. I've already said many times that Omar needs to disappear in the national interest.

I don't believe the off balance sheet debt overhang left by Omar is a huge portion of this increase...if it is I'd love to know.

This govt has been on a borrowing spree 2nd to none.... and what do we have to show for it?

Not much...

Shaw is doing some things well...JDX and borrowing money...perhaps too well

[Willi]

Yes it was. Dont forget all the promised emoluments to civil servants and many other deals like the bauxite pre-sales at what was below production costs, etc, etc, all were hidden off-balance sheet.

It would take some research to gather all this info, but I have made mental notes of this during the last 3 years. This was hundreds of billions of JA dollaz.

Disappear in the National interest is like saying Greenspan should get a pat of the back for his mishandling of the US economy for over a decade!

[Me]

60% is a a number that includes the impact of the dollar weakening on the external debt stock. Also, there should be some run off from the securities maturing within a year. With the "cheaper" debt and the maturity restructuring of debt he has given himself some additional room (minor, but needed).

Until productivity and compliance increases and corruption is minimized in many of the govt agencies, we are going to have to continue to borrow more each year.

If people responsible for security and education and the private sector deal with things properly then Shaw or whoever else in the future will be able to significantly reduce our borrowing.

[Don1]

60% is a a number that includes the impact of the dollar weakening on the external debt stock. Also, there should be some run off from the securities maturing within a year. With the "cheaper" debt and the maturity restructuring of debt he has given himself some additional room (minor, but needed).

Until productivity and compliance increases and corruption is minimized in many of the govt agencies, we are going to have to continue to borrow more each year.

If people responsible for security and education and the private sector deal with things properly then Shaw or whoever else in the future will be able to significantly reduce our borrowing.

Any way yuh slice it...60% is a huge number over less than 3 years...

[Don1]

Yes it was. Dont forget all the promised emoluments to civil servants and many other deals like the bauxite pre-sales at what was below production costs, etc, etc, all were hidden off-balance sheet.

It would take some research to gather all this info, but I have made mental notes of this during the last 3 years. This was hundreds of billions of JA dollaz.

Disappear in the National interest is like saying Greenspan should get a pat of the back for his mishandling of the US economy for over a decade!

Would love to see the hard numbers on these off balance sheet items...doubt very much that it amounted to 100s of billions of JA$... that's couple billion well US$

Civil service promises were made by the JLP to win election votes...then they found they could not pay. The losses on bauxite forward sales seems to have been in the US$100-150m ballpark ...but the GOJ bauxite/alumina assets were also milked for budget support over the years...don't know how much of those subsidies/losses were off the books. All recent govts tek forward payments...Omar tek it fi support im budget den di world price crash in 2008... wi get wha di duck get

Hard independent numbers are needed to make the evaluation on off balance sheet items & other matters... We are always dependent on the self serving statements of politicians published in the unquestioning press....we need the equivalent of a impartial US style Congressional Budget Office/General Accounting Office to get worthwhile financial evaluations..... no way can this or that politician be trusted to tell the truth.... on anything..