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Hill impatient with IMF negotiations

Published: Monday February 4, 2013 | 8:32 am Comments 0
 Former investment banker Aubyn Hill - File.
Former investment banker Aubyn Hill - File.

Former investment banker Aubyn Hill says the Government is taking too long to negotiate a new agreement with the International Monetary Fund (IMF).

The Finance Minister Dr Peter Phillips had set a December 2012 deadline for a deal with the multilateral agency.

Last week, the Opposition Spokesman on Finance Audley Shaw tore into the Government for its handling of the economy.

Hill said he does not believe in setting timelines for the Government to close deals.

However, he says it should have taken a shorter period of time.

According to Hill, there are political advantages to moving quickly with structural reforms which are being demanded by the IMF.

The Fund has insisted that Jamaica fulfil its agreement under a 2010 agreement to implement tax and pension reforms.

However more than one year after the Portia Simpson Miller administration was voted into office, none of the reforms have been undertaken.

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