Fiscal prudence crucial to growth
THE EDITOR, Sir:
In his article 'Is Peter going for growth?' (Sunday Gleaner, March 15, 2015), Ian Boyne states that too much of our discussion about economics in Jamaica amounts to nothing more than fantasy and wishful thinking. It is infantile and puerile.
We talk as if we have economic sovereignty. We design our shopping list without giving a thought to the fact that it is the International Monetary Fund that is paying the bill. What negotiating space do we have? If any, we are highly delusional.
The Opposition can afford to revel in this fantasy world for political reason until they form the government in some distant future. I am wondering if they are seriously interested in being a viable alternative government.
People keep asking, "What about growth?", apparently oblivious to the fact that fiscal prudence has to precede and is the foundation of growth. Have successive governments done this in the last 30 years? Is the IMF forcing us to put this structure in place?
Those who are calling for growth, please tell me in simple, realistic terms how we can achieve it.