What's holding up the IMF deal; Previous Gov’t...to blame

[Karl]

take it easy with me Rocket Scientist, mi nuh go a JC.

"Jamaica will not be looking to borrow any more money from the International Monetary Fund (IMF), in the new arrangement which is to be hammered out by Finance Minister Dr. Peter Phillips and his team.

Dr. Phillips completed meetings with an IMF mission in Kingston this week.

He told journalists at a press conference this morning that the initial talks have set the stage for negotiations for a new deal with the IMF in March."

I posted the link in another tread.

who is daft now? LOL

Sass: I hope your original post said that Dr. Philips said Jamaica would not be increasing the amount to be borrowed...as that is what this

Jamaica will not be looking to borrow any more money from the International Monetary Fund, in the new agreement...

said.

Clearly the good Dr. said there shall be a new agreement and alluded to the draw down of funds being the balance that would have been available under the old agreement...i.e. no increase on previously requested funds.

[Don1]

To Sass that means

"we were not going to borrow from the IMF again"

:

[Don1]

All this he says may be true BUT

The previous Govt is history...an irrelevance today. Phillips needs to forget about them and take 100% ownership of the problem... by finding the best solution asap

Im fi cut out di blame game & bellyaching

[Bricktop]

Sass: I hope your original post said that Dr. Philips said Jamaica would not be increasing the amount to be borrowed...as that is what this said.

Clearly the good Dr. said there shall be a new agreement and alluded to the draw down of funds being the balance that would have been available under the old agreement...i.e. no increase on previously requested funds.

So if the agreement was for $1.2 billion and $800 million has already been disbursed why is it that Peter Phillips denies that there is only $400 million left to disburse?

[Willi]

Simples...

[Willi]

Don, first off PNP NEEDLESSLY get themselves in trouble with the foolish utterances of IMF deal in 2 weeks nonsense.

The REAL point though is the bitter medicine.

It clear to me that IMF wants MASSIVE public sector layoff. The last Guvvament stalled as long as they could hoping for re-election and Holness let it slip about bitter medicine...implying that he would cave, if re-elected.

The PNP does not want to be a lame duck from day by caving, so they are trying to stall, but dat cyaan wuk for 4-5 years, so they will have to cave too, but they figger the later the better. Either way, they WILL lose the next election big and is BARE 1 term guvvament for the foreseeable future till we grow up. The political class has run out of ideas.

Simples.

[Willi]

Why unnu ah argue minutia when its clear as day what the big pictha is?

[Assasin]

the title of the post said "NO more borrowing agreement and that is what Dr. Phillip said then. He didn't say that.

[Assasin]

"Jamaica would not be increasing the amount to be borrowed

Clearly the good Dr. said there shall be a new agreement and alluded to the draw down of funds being the balance that would have been available under the old agreement...i.e. no increase on previously requested funds. "


Karl how could he be saying that when the agreement came to an end in March or April the same year and the IMF said this deal couldn't be renegociated. Dr Phillips also said he didn't want that deal either.
You certainly are stretching it. What doctor Phillips then did was try to float bonds on the European market and it failed. After it failed he borrowed money locally for a year from NCB and Scotia Bank and later went to re-ignite the discussion with the IMF.

You can try re-write the history but it nah go work.

[Don1]

mi si yuh pawdie

[Sir X]

I hope they loose for jamaicas gain , but the jlp has it to win with a progressive inclusive agenda ,if its a loss by default the jlp will be out again just as quick,poor people a wake up.

[Karl]

So if the agreement was for $1.2 billion and $800 million has already been disbursed why is it that Peter Phillips denies that there is only $400 million left to disburse?

Make a guess on why that answer could be correct?