Edmond Campbell, Senior Staff Reporter

THE TOP brass of the Private Sector Organisation of Jamaica (PSOJ) will today sit at the table with officials from the International Monetary Fund (IMF), not to negotiate, but to discuss what the group purports to be a realistic set of conditions and timetable for an agreement with the Jamaican Government.

Last week, Finance Minister Dr Peter Phillips led a team of technocrats in the start of negotiations with the IMF to arrive at a new loan agreement.

Caution against overdose

Commenting on the possible conditionalities that might be attached to the agreement, Zacca said the private-sector body would caution against an overdose of "medicine".

"The medicine can be so strong that it kills the patient and we have to work together as team Jamaica with the IMF to figure out what the right dosage is, and that is going to be the critical thing in the next few days," Zacca told The Gleaner yesterday.

"We can't negotiate with them but we want to at least have them aware of our position and have us aware of their position to see if there is some sort of position we could influence in any way possible to the benefit of Jamaica."

At the same time, Carol Narcisse, executive director of the Jamaica Civil Society Coalition (JCSC), said her group would also be holding talks today with members of the fund.

"Concern about growth has to be part of the IMF agenda. We believe that the IMF and other multilateral partners have a role and responsibility to require a credible growth plan in the same way that they require a credible fiscal plan," Narcisse said.

The coalition head also indicated that the group would put on the table its support for the view that an agreement with the fund should extend over a longer time frame.

The administration has suggested that it will be seeking to ink a three-year medium-term agreement with the IMF instead of a standby loan facility.

edmond.campbell@gleanerjm.com