I dare you ... Phillips issues challenge to Holness on the economy
BLACK RIVER, St Elizabeth:
Dr Peter Phillips, the campaign director for the People's National Party (PNP) has dared Opposition Leader Andrew Holness to deny that Jamaica was unable to draw down on multilateral funding because of the failure of the last administration to complete reviews agreed with the International Monetary Fund (IMF).
According to Phillips, it was the withholding of funds by the various foreign agencies that led Holness to make his 'bitter medicine' statement.
Holness, in the 2011 election campaign, promised that his government would be forced to administer bitter medicine to the economy.
Addressing PNP supporters in Black River, Phillips said Holness' comment was motivated by the fact that the economic reform programme went off track after three reviews.
Phillips said the previous government had no review of the IMF-backed programme from May to December 2011.
He said that virtually cut off Jamaica from funding sources.
Jamaica reengage the IMF one year after the Simpson Miller administration was voted into power.
The country has passed all 10 reviews under the programme thus far.