JAMAICA: Prime Minister Bruce Golding IMF Interview All Angles Part 1 of 5

[MrYoungIndependence]

I can't believe the people who are complaining about the IMF. What else could the government do? If they had not done this, they would have had to raise taxes, and no one wants that.

[masterix6]

Can't wait for Bruce to leave as Prime minister

[athoughtactually]

@masterix6

And if he does, who then would be suited to fill that post?

[masterix6]

@athoughtactually Look. Lets start from what we dont want. The situation is terrible as it is. His return to the IMF has made matters worse. Neither party was good in the first place but Bruce Golding is not what we need now. Would you vote for the JLP and reelect them once again?

[athoughtactually]

@masterix6 What I absolutely do not want is another 18 years of deceit and wreckage and there are only two options as it is, the JLP or the PNP. Hope this answers your question.

[hereticaldesign]

Jamaicans had never had economic control of the country, the Jamaican dollar is not even made in Jamaica its made by De La Rue Currency Ltd. in England. And the money is lent into circulation that what interests rates are for. The IMF is just a front company for the international central banking cartel. the day when BOJ is nationalized and tariffs on food coming into the country is implemented as well as credit available real production, then you will see growth.

[MedlynMartin]

The world is headed into new directions and there are almost three millions mouths to feed in jamaica. It would be difficult now not to play ball with the big boys. Many years ago jamaica had the opportunity to be self sufficient but we did not have the self love, we allowed out side forces to destroy our country. All that can be done now is to salvage what is left. The IMF are liars on many occassions they have renaged on promises, can we trust them now? and at what cost.

[MedlynMartin]

Amen brother Joshua

[fista10000]

Ladies and gentlemen, we can make constructive criticisms of our elected representatives, including the Prime Minister, Mr. Golding. There is no need for the derogatory connotations. Even though, I neither lend support to the JLP nor the Honourable Bruce Golding, I will address him respectfully. I think in his heart, he wishes Jamaica well. Please, my fellow Jamaicans, refrain from the obscene language. It makes us, as a people seem small. We are not!

Joshua Spencer

[fista10000]

Irrespective of the arguments being furnished, it is my humble belief that the nation and Government had other alternatives to the return of the I.M.F. How, in the long run, will returning to the I.M.F. make the nation, particularly the masses, any better in the long run?

We, and our local leaders, private and public sectors need to start to think outside the box. What about some structured discussion with the diaspora, say in in investing in Govt Bonds, what about initiatives for production

[bawlout41]

Bruce is full of shit with a whole heap a rhetoric without substance

[nfn4]

jamaica import even basic food items, most favors foreign goods but with no intention to produce in JA. Instead of the criticizing and trying to make political scores the oppsition should come up with some reasonable solution. But typical ja politician their only goal is to oppose to gain popularity for the next election what a shame. The only way out for JA is to strike black gold/oil. DON'T FORGET SPREE KILLERS R DRIVING AWAY RETURNING RESIDENTS, INVESTORS AND TOURIST HOLDING FOREIGN EXCHANGE

[rogermoore27]

Why are Golding's ears so darm floppy? And why is Jamaica putting out its hands like Oliver Twist, asking for a morsel?

[okito95]

I guess because he is getting old. Bauxite plants have closed, that alone means hundreds of million of dollars lost, remittances has fallen, and other problems that the ja government has ignored over the last 40 years.

[rogermoore27]

so what has the government done to diversify its economy at all over the years? What portion of GDP does bauxite contribute?

[okito95]

Bauxite is around 15% of GDP. The thing is they haven't at all made a major push to diversify the economy, not saying there wasn't any effort but for years the three main pillars of the economy when it comes to foreign earnings its tourism45%, and Bauxite and remittances equally make 40%.

[rogermoore27]

let me just clarify. In the first part, you said it was 15% of GDP and just under you said Bauxite and remittances is 40%. So remittances make up the difference between the 15% and the 40% or did I read that incorrectly?

[okito95]

GDP is the value all goods(exports) and services(jobs) in a country. When it comes to this bauxite is 15% of GDP, jobs(services) make up 65% of GDP.

Now when it comes to the amount of foreign money US$ the the country earns, bauxite represents 20% of foreign earnings. Remittances make up another 20% of the total earnings of foreign earnings(US$). When tourists arrive the money they spend represents 45% of the total foreign earnings that the country gets.

[rogermoore27]

Ah. thank you. So Tourism and Bauxite are especially volative right now. Tough times ahead.