Nov 21
It has been suggested that as much as 70 percent of Jamaica’s public debt may be illegitimate., The following is a list of twenty-one questionable projects and dealings which need investigation. It is by no means exhaustive, but there is a pattern which suggests recklessness and lack of accountability for the spending of public funds…
Well done, Lloyd. A very much needed piece of (hard) work, bringing all this matreial together.
If the FINSAC debt alone doubled the debt butden then there’s little doubt that the other items makes it up to the 70% illegitimate debt suggested by Prof. Petras.
We really need to keep alive the IMF’s involvement in creating the FINSAC debt in the early 1990s by its poor advice because of its magnitude and the fact that it goes even beyond the endemic corruption of the other examples.