Wed | May 24, 2017

IMF official patronising

Published:Friday | March 6, 2015 | 3:00 AM

THE EDITOR, Sir:

'IMF investing serious money in Jamaica, says the IMF's van Selm', according to The Gleaner report on March 4, 2015. Really?

What an absolute insult, and what absolute rubbish! The IMF (International Monetary Fund) is investing only in more rapacious transfers to that same global financial elite which brought the world to its knees in 2008.

The IMF has absolutely no interest in Jamaica beyond this. And it has already had more than its pound of flesh in the poster-child publicity provided by Peter and Portia for its bankrupting policies.

Not to mention that at least 40 per cent of Jamaica's debt results from the impositions of the IMF in the early 1990s in terms of uncontrolled liberalisation of our financial sector - that's the FINSAC part that should be written off with no more ado.

Long live Syriza in Greece for at least (like little Belize) trying to oppose the dominance of the world by narrow, avaricious financial agendas. We may have ourselves partly to blame for our crippling debt, but what of the lenders' responsibility, and where did their money originate? What of the dominance of the World Trade Organization by rich-country agendas that cripple us as much through unfair trade as the debt? What of history and the disadvantaged position that has left us in, with no sign of reparations as yet?

The patronising van Selm seems to be telling pensioners that they are still overpaid, and government workers, too. More cuts to come in real incomes, if not nominal ones, while Ronnie Thwaites' 'biggest transfer of wealth from the poor to the rich in our history' continues apace.

PAUL WARD

Kingston 7