THERE IS no reason to celebrate despite Government's ability to raise 200 million euros (US$250 million) in a sale of euro-dominated bonds on the international market, says Dr. Christopher Tufton, head of Generation 2000 (G2K), the group of young professionals affiliated with the Opposition Jamaica Labour Party (JLP).
Speaking yesterday at the party's Belmont Road headquarters, Dr. Tufton said the move only offers a temporary relief to the Government because it means there is going to be some financing for the budget but in the end does not impact on a myriad of socio-economic problems facing the country.
"It's the first country (I see) where you celebrate when you borrow," he said. Dr. Tufton said that the problem was not solved especially when the Government did not show how it intends to control its expenditure and expand and grow the economy.
"...We have had a decade where we have had high interest rates, a decade of continuous borrowing, a decade of expanding Government, and cost to operate the public sector, a decade of fluctuations of the exchange rate in one direction," said Dr. Tufton.
Dr. Tufton was speaking following a press briefing to announce activities for G2K's fourth anniversary. The week of activities runs from January 25 to 29. The activities will begin with a church service at Hope Gospel Assembly, Old Hope Road, St. Andrew.
