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.... Sass please get up to speed with this type of logical & data-driven analysis. Please also take this in good faith...
I single you out out not because of "bad-mind" but because there is some glimmer of reasonableness about your arguments .
As opposed to rabid, mindless tribalists like Ben & Lazie you seem to be not so inclined....
wooooiiiee mi pons!!!!!
Full Hundred
SYNOPSIS
Despite its achievements, JDX arguably did not directly address the debt overhang problem. The stock of debt and its structure continue to pose risks for fiscal sustainability and policy slippages could put Jamaica right where it started before the JDX. Jamaica’s debt outlook remains vulnerable to a wide range of issues including fiscal and structural, as well as to the external factors (such as the path of the global recovery).18 JDX did not trigger any meaningful fiscal consolidation beyond the reduction of the interest bill.
Instead, the sense of additional fiscal space created by lower interest bill gave way for more pressures on the public wage front, building permanent pressures into the fiscal outlook and weakening the overall/net impact of the exchange in the medium term.
Another critical aspect that may have gotten worse around the timing of JDX (having been exacerbated by the global crisis and its implications on the domestic economy) that could jeopardize its achievement and debt sustainability in general is the contingent liabilities.19
All in all, there is an urgent need to implement policies that would help restore debt sustainability and investor confidence, as well as safeguard the stability of the financial sector.
A multi-year credible fiscal adjustment framework would be required to put the debt ratio on a downward trajectory. In contrast to consolidation attempts in the past, this effort would have to be underpinned by efforts that would aim to substantially strengthen expenditure management and expand the scope of public liability management to include public entities, which have in the past had a significant drain on public resources, mostly taking place off budget.
Jamaica’s debt overhang is likely to be a key factor behind the weak economic growth and financial market volatility and until/unless addressed would remain a drag on economic progress for years to come.
I single you out out not because of "bad-mind" but because there is some glimmer of reasonableness about your arguments .
As opposed to rabid, mindless tribalists like Ben & Lazie you seem to be not so inclined....
wooooiiiee mi pons!!!!!
Full Hundred
SYNOPSIS
Despite its achievements, JDX arguably did not directly address the debt overhang problem. The stock of debt and its structure continue to pose risks for fiscal sustainability and policy slippages could put Jamaica right where it started before the JDX. Jamaica’s debt outlook remains vulnerable to a wide range of issues including fiscal and structural, as well as to the external factors (such as the path of the global recovery).18 JDX did not trigger any meaningful fiscal consolidation beyond the reduction of the interest bill.
Instead, the sense of additional fiscal space created by lower interest bill gave way for more pressures on the public wage front, building permanent pressures into the fiscal outlook and weakening the overall/net impact of the exchange in the medium term.
Another critical aspect that may have gotten worse around the timing of JDX (having been exacerbated by the global crisis and its implications on the domestic economy) that could jeopardize its achievement and debt sustainability in general is the contingent liabilities.19
All in all, there is an urgent need to implement policies that would help restore debt sustainability and investor confidence, as well as safeguard the stability of the financial sector.
A multi-year credible fiscal adjustment framework would be required to put the debt ratio on a downward trajectory. In contrast to consolidation attempts in the past, this effort would have to be underpinned by efforts that would aim to substantially strengthen expenditure management and expand the scope of public liability management to include public entities, which have in the past had a significant drain on public resources, mostly taking place off budget.
Jamaica’s debt overhang is likely to be a key factor behind the weak economic growth and financial market volatility and until/unless addressed would remain a drag on economic progress for years to come.
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