Mon | Dec 5, 2016

Don't downplay Lagarde's praise

Published:Friday | July 11, 2014 | 12:00 AM

THE EDITOR, Sir:

Increasing Jamaica's debt is nothing to be happy about, but Christine Lagarde's endorsement has value. For more than a year during the last Jamaica Labour Party administration, no one knew whether we had passed the scheduled International Monetary Fund tests, which left the relationship with our domestic and foreign creditors in limbo.

For a country that lives on other people's money even to shore up an overvalued dollar, we may not understand how that prejudices our very existence.

Yes, it is painful, but passing the tests and getting international approval is important compared to the malaise that existed then.

The European Union concurs that Jamaica seems to be setting things in order. Stability and international confidence have to come before growth, and what we should ensure is that we do not waste this advantage like we did two Jamaica Debt Exchanges ago.

Our sacrifices should not only take our country somewhere, they should also make us believe in our ability to get things right.

PATRICK PARCHMENT

paperpatrick@gmail.com

Montego Bay, St James