Jamaica should take lessons from Greece’s debt situation, says Opposition

The parliamentary Opposition says Jamaica should take lessons from Greece’s debt situation to ensure austerity measures are balanced by efforts to drive growth in the economy.

Yesterday, Greek voters decisively rejected the terms of an international bailout and are looking to re-start negotiations on the matter.

Greece’s government believes that some of the terms proposed to help restore financial stability are too extreme and would come at significant social and economic costs.

Opposition Spokesperson on Finance Audley Shaw argues that the rejection of the bailout terms suggests the Greek government must have an alternative to grow the economy and improve lives.

In relation to Jamaica, he says there are no strong and credible growth plans to accompany the economic reforms under the programme with the International Monetary Fund.

Jamaica and Greece are two of the world's most indebted countries.