A fresh look at the IMF programme

[Assasin]

AT a recent annual general meeting, one of Jamaica's private sector leaders summed up Jamaica's situation as one where "we have not managed our public finances well", and are now in the process of fiscal correction which unfortunately has had to be "driven by external forces" , meaning the IMF. He noted that the contraction of public spending affects any business in the domestic market, and that costs are going up disproportionately in line with Jamaica's continuing devaluation. The current government was trying hard, he argued, but the issue of the sustainability of the correction remained.

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