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Higher wage offer could derail IMF programme, Phillips warns

Published:Tuesday | June 2, 2015 | 5:33 PM
Phillips ... Jamaica has been on a path of reform to strengthen the economy, which in turn has resulted in financial support from Jamaica’s multilateral partners, and this must be allowed to continue.

The Minister of Finance and the Public Service, Dr. Peter Phillips has warned that Jamaica’s economic programme with the International National Monetary Fund (IMF) could be derailed if the government accedes to calls for a wage increase higher than five percent.

Public sector workers and their unions have insisted that the offer is not enough and have demanded more money.

However, Phillips says Jamaica would be placed in an adverse economic position if the Government gives in.

He says the country has been on a path of reform to strengthen the economy, which in turn has resulted in financial support from Jamaica’s multilateral partners, and this must be allowed to continue.

 

Finance and Public Service Minister, Dr. Peter Phillips