Wed | May 23, 2018

IMF deal alone cannnot save Jamaica

Published:Saturday | December 8, 2012 | 12:00 AM


The appreciable slide in the value of the Jamaican currency can only be compared to the tremendous slide in belief where the newly elected government is concerned.

The dark despairing clouds of despondency are gathering on the collective national horizon. With that said, a deluge of hardship seemsinevitable. As such, the country holds bated breath, hoping and praying for a deal from the International Monetary Fund (IMF), a deal which manybelievewould stem the tide of the imminent deluge.

It must be the duty of every capable citizen to propel the truth and, in so doing, disband the myth which may seek to transform this pending deal into a financial panacea.

The truth we must promote is that which highlights the fact that our economic woes are long-standing, intractable and bipartisan, and try as we might, no IMF deal will work wonders.

The reality is that with or without this deal, our economic and financial woes will be with us for some time to come, and if we refuse to make tough decisions now, they may very well be with us for even longer.

Ours is an issue which is home-grown and must be met with home-grown will and native solutions. We will have to be the ones who eventually move to solve our own problems for no external institution, whether government or organisation, can do it for us.

We must move quickly, for if we delay, Greek-like implications await.