According to PSOJ President Christopher Zacca there is no room for a Plan B without the IMF and anyone who suggests otherwise is not thinking straight. Jamaica’s economy is broken and needs fixing and the private sector stands ready to be a part of the solution – starting with getting an IMF Agreement. We must shun political divisiveness and paralysis in favour of a united front that will stop us from falling off the cliff and get us to a better place. Read ( PDF)
Avoiding the fiscal cliff
Caught in a debt trap
The Chicago Tribune labels Jamaica “The Greece of the Western Hemisphere” and sees us as an extreme example for lawmakers in the US and elsewhere of the disastrous effects of borrowing too much. Caught in a debt trap, the only thing worse than imposing harsh austerity measures on its people would be defaulting on debt obligations. The editorial says the IMF has been given a bad rap as it is the excessive borrowing and spending of our leaders that is to blame. Read article
IMF cannot save us
Like many of us, Gleaner columnist Steve Lyston is wondering whether Jamaica really needs or wants the IMF with its social, economic and political ramifications. We cannot truly be free if we are in bondage to international masters. Lyston lists some wiser choices, among them: a focus on farming to stop price hikes, a 50% pay cut and term limits for politicians, tax breaks for local small businesses, and “fresh blood” to advise both political parties. See some of his other engaging suggestions. Read article
Taking Christ out of Christmas
While many are calling for Christ to be put back into Christmas, Ian Boyne advocates that we de-Christianise the Holiday Season. The veteran journalist says there is no sound Biblical basis for celebrating Christ’s birth on December 25. Backed by well-researched Christian Theology, Boyne claims Christmas has its roots in the pagan Saturnalia festival. It was not a Christian celebration in the first place - Christ was never in Christmas.
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A most challenging year
In his address to the PSOJ Chairman’s Club, Finance Minister Peter Phillips admits 2012 has been one of the most challenging years for independent Jamaica. Despite the prevailing apprehension about the nation’s future, aggravated by the sliding dollar, the decline in the Net International Reserves, and the growing debt, Dr. Phillips believes we can overcome these economic challenges and speaks of energizing the Economic Reform Programme. Read Full PDF
