Roper challenges Lagarde on devaluation

[Sir X]

Roper challenges Lagarde on devaluation
BY STEVEN JACKSON Sunday Observer staff reporter

Sunday, June 29, 2014 1 comment

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Minister of Finance and Planning Dr Peter Phillips in conversation with IMF Managing Director Christine Lagarde. 13 THE SUNDAY OBSERVER June 29, 2014

One of the governing People's National Party's strongest supporters, Rev Garnett Roper, on Friday challenged International Monetary Fund (IMF) boss Christine Lagarde on her organisation's policy of currency depreciation, describing it as a method of victimising countries in need of economic assistance.

Roper, who chairs the State-owned Jamaica Urban Transit Company, put the question to the IMF managing director after she delivered a lecture at the University of the West Indies, Mona campus, in which she said that the IMF — regarded by many as a cold organisation — had changed over the decades to a body with a head and a heart.

http://www.jamaicaobserver.com/news/...ation_17045597

[Rockman]

Thank you X.
There is a possibilty that the visit was timed with the WC games,we are not in the WC but nevertheless preoccupied with discussions on the games rather than correctly prioritizing the importance of our economy.
The only thing we heard from the leader of the opposition is his preference for Germany winning the WC.
It is mind boggling how in something as controversial as an IMF agreement only two questions were alloted to the real stakeholders,I am curious as to what the other question was.
Roper's question was spot on,unfortunately under the arrangement,he was not allowed to ask further questions regarding Legarde's answer.
The PSOJ had voiced concerns about the adverse effects of devaluation,devaluation favours foreign investors and not local which has to still compete.Whose interst is be facilitated by the IMF?
Legarde has claimed the IMF has changed(as did previous directors..) but is there any truth to her assertion?
From inception,the IMF is keen on inducing policy changes,the SAME script is being used;devaluation of currency,cut in spending on social services,reduction in subsidies,cuts in healtcare,cuts in education,and the encouragement of privatization.
What exactly has changed?

[Rockman]

And BTW,Legarde becoming the director is still consistent with europeans being at the helm.