What happens if Jamaica does not get IMF deal?

November 6th, 2012

An agreement with the International Monetary Fund (IMF) has been the only solution I have heard Jamaica’s previous and current Government come up with for dealing with the country’s economic problems. Although the public has been constantly told that there is nothing to worry about and that the deal will be finalised soon, many issues have still not been resolved.

According to the current Government they are moving to take care of key areas that will impact the agreement with the International Monetary Fund (IMF). These areas include wage negotiations with the public sector unions, action on tax waivers and defining a satisfactory time frame for achieving the desired debt ratio.

However, since these negotiations have been going on for such a long time, I just wonder, what will happen if the IMF deal does not occur? Does the Jamaican Government have another plan in place? What do you think? It’s time again to have your say…

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18 Responses to “What happens if Jamaica does not get IMF deal?”

  1. Jo Bent says:

    The Gangsters have to
    curtail personal spending
    from the nations coffers,
    reign in sticky fingers
    employees that steal billions
    annually,step up collections
    of taxes from the tax dodgers in Private sector
    implement a visa fee of US$10,
    (yes they will come), make better deals
    with foreign investors to benefit
    natives,stop the rampant bandoloo
    business in every arm of society,
    go back to Jamal, JLL is not working,
    treat JAs as they would want to be
    treated, get cheaper cars for themselves
    families & friends, stop eating like
    hogs & getting guts looking like walrus.
    Be honest, develop integrity, stop lying
    stealing ,begging & borrowing at high
    rates, produce & export more, quit
    importing oxtails ,goat meat, carrots and
    the junk caricom dump in our stores.
    Have Every household in Jamaica 2M adults
    send straight to IMF US$5.00 (a fantasy of course)and cut all borrowing from IMF
    right now…. no more deals .

  2. This is a very good question and I hope our leaders had this on the agenda of their most recent retreat.
    Failure to ink a deal with the IMF might be a blessing in disguise because it might just force us to do the right things to get our country out of debt.
    Deal or no deal we need to cut spending, improve tax collection, reduce crime, reign in Government corruption, reduce importation of food items which are produced in Jamaica, increase our food production for export, and cut the public sector wage bill.
    Getting a loan from the IMF without implementing the above suggestions will not solve our long term problems and might deepen our dependency on external assistance.

  3. I have been absent for some time, but now I remember why I used to love this web site. Thanks , I¡¦ll try and check back more frequently. How frequently you update your site?

  4. anonymous says:

    No wonder they pimp/prostitute. the

    educated citizens, nurses, teachers

    and UWI grads; go work and send back

    remittances in the meantime we will

    live large on IMF money. Hope they

    get none.

  5. It is appropriate time to make a few plans for the long run and it’s time to be happy. I’ve read this put up and if I could I wish to suggest you few attention-grabbing things or suggestions. Perhaps you could write subsequent articles regarding this article. I desire to read more issues about it!

  6. Ruffian says:

    Without an IMF deal Jamaica will go off a cliff…..

    No politician, PNP or JLP, had the vision to see that a bloated public sector workforce (filled with million dollar consultants) a pension system where no one contributes, a tax system filled with
    tax evaders was UNSUSTAINABLE.

    Now the chickens have come to roost.

    Its a shame that the IMF has to tell Jamaica to make these changes or no deal.

  7. Reduce crime and corruption.The tourism trade will increase dramatically to this beautiful island.There will be no need for an IMF loan.

  8. mike says:

    an imf deal only means permission to beg..weve had imf deals before..are we better off..?..the imf is only an instrument the money barons use to keep the boot on the neck of countries that live beyond their means..time to sort out ourselves jamaica..50 and still begging..?

  9. rankin danny says:

    long time . with the imf jamaica goverment now have to realize. that borrowing still keep you slavery.wake up.jamaican goverment. try to be self sufficient.

  10. Edge says:

    Proverbs 22:7

    7 The rich rules over the poor,
    and the borrower is the slave of the lender.

    wake-Jamaican politriction

  11. Dian Ave Moffatt says:

    TO JO BENT:
    I could not have said what you said better; bravo! Indeed, the Government of Jamaica would do well to curbed its beggar-mentality. The Jamaican government has to stop begging the IMF. Begging the IMF must not be the primary economic strategy to improve the economy of Jamaica. Consider the many brilliant Jamaicans in the diaspora who would love to come home to contribute our economic resources, professional skills, trades and talents to the development of our nation. However, when we hear and read of the disgraces taking place in our beloved country, we shudder to think of coming home to a country rampant with corruption, crime and violence.

    I long to see a Jamaica governed by visionaries who so to speak, “write the vision and make it plain” for the nation to see the vision then rally behind that vision so that a revolution can come to Jamaica, resulting in our evolution from a developing country to a developed country. When will those who govern Jamaica use their wits (intelligence and expertise)to be change agents for the nation? When will those who govern Jamaica develop forward-thinking ideas for economic development or use their knowledge of successful governmental and non-governmental programs in economically-thriving countries to reproduce economic success in Jamaica’s economy?

    In my dreams, I envision a “revolutionalized Jamaica” free of crime, violence, immorality, unethical behavior, unemployment, impoverishment and stagnant economic growth then a New Jamaica comparable to the “Asian tigers” such as, Singapore. Now, if only Prime Minister Portia Simpson-Miller, the PNP and JLP could have the same dreams for Jamaica that I do.

  12. Bob says:

    I said it before, there is no arm in borrowing money, as long as you already have a plan to repay it when and even before it become due!. with out such plan I would suggest that Jamaica, do either one of two things, 1 file for bankruptcy. and start a new where every body get a chance to put their 5cents worth in the direction where the country will be going. this mean that all Jamaicans must be able to know and understand their part that they have to play for the Train called Jamaica to stay on the rain and avoid scratches once its has been re painted ( Bankrupt).

    2, This is the most difficult one, we start to build more prisons, and start to put politicians in jail, tax dodgers in jail, and all those who breach the laws in jail.
    But here is why this is so difficult, Its because most of those who would be in charge to see these things carried out are crooks themselves, and this is the problem.
    In the Government of Jamaica, you have too many crooks, some of them don’t seem to understand that by giving a friend or relative a bli, which strayed from the strict guidelines they are supposed to operate under is , a crime. and they should be punished for that!.. Jamaica need to start to operate as a business, where you fire people who are under performing, and hire people who will.

    Imports and wavers should be carefully considered, I believe that the Private sector is one of the biggest burden on our system of Government,
    Yes I say this, because they are the ones who have their hands out asking for all sort of changes so they can do what they want, and in the process they still are not making the help they get trickle down to the rest of society.
    meaning in helping to create more jobs. so more people can work so the government can collect more in taxes,
    Instead they seem to see who can have the most

  13. Jill says:

    Honestly, I dont want an IMF deal to come through. I know that more people will suffer under them. I hope Jamaicans will stop living such lavish lifestyle. We can use cheaper gas, sell vehicles that use large volumes of gas, decrease imports of foodstuffs, live simpler lives…. Any country IMF goes into, there is too much suffering. They squeeze the life out of the citizens. They enjoy when people suffer. NO TO IMF!.I wished the JLP did not go there in the first place!

  14. Tika says:

    IMF must NOT give Jamaica a dime let

    the snake oil selling leaders go

    elsewhere to figure it out.

  15. thegavel says:

    DO IT OURSELVES: FINANCE ( for Mr PHILIPS ).
    How to find you ?

  16. It probably good for Jamaica, we have a lot of crooks waiting to raid the till.It will be also good in the sense that people will learn to go out to work instead of wanting to earn a living by sitting down on the country. Although Jamaica major problem is how to rid the country of the many none performer in Parliament. It is just sickening to look at conditions in some of those constituency,to which many of those MP have been there for many years.When we look at our own state of being,and performances make us not wordy for loans.

  17. germoney says:

    either by the bible or the bulett or the gun, anywhich way, freedom must come. a change must come…(mutabaruka)
    what´s bad a morning can`t good at evening!
    greatulation 50 years indepent to jamaica from far germany. 13 years reunited.
    we all get one big problem all over the world.money and politriki rules the world.
    in europe and in jamaica too.
    no matter if you black, no matter if you white.
    forward ever, backward never.
    come we start a revolution all over the world.

  18. Edge says:

    I was thinking what to write and all I could hear was the great Michael Manley no need for me to repeat what he said, but them who sell him out like Judas give up Christ, are feeling it now, Wboy..!

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