Nov 05
Webmaster’s note: as Jamaica faces yet another round of austerity measures in a desperate attempt to get back on track with its latest IMF programme, a call has been made for debt repudiation backed up by an audit of its national debt. While we do not agree with everything in Lloyd D’Aguilar’s article, we share the view that a rebuilding of Jamaica’s shattered social infrastructure and the achievement of sustained economic growth will not be possible without substantial debt restructuring to reduce the crippling burden of its national debt on the public finances and on the national economy.
Norman, please take a look at “Case for an audit of the public debt”. I’m sure you will agree with me that the national debt stinks to the high heavens. 1.2 million people living below the poverty line; 13% unemployed (so they say); banks making trailer loads of profits; JPS robbing the people blind; Sandals and others living high off the hog; and on and on. Calling for repudiation of the public debt is essentially a call to arms to shake up the political system which is obscene in its contempt for the poor and working class. But as in the case of Ecuador and Argentina the things being suggested are not necessarily revolutionary… they are just pragmatism. Lloyd