Whether We Go to the IMF…It Won’t be Business as Usual… PM Golding

Prime Minister the Hon. Bruce Golding says that whether Jamaica goes to the International Monetary Fund (IMF) or not, it will not be business as usual, because the country is facing serious financial problems that will require a level of discipline that we are not accustomed to applying.
Speaking at last night’s (July 15) Town Hall Meeting in Ocho Rios, St. Ann, Mr. Golding said of the IMF, “They have said to us, you set your own targets and let us see if they are going to achieve the long term objectives. But once you sign off and say these are your long term targets, you must do them. One of the encouraging things arising from the discussions is that what we are proposing in terms of our medium term economic programme, is no different from what the fund would insist on.”
Mr. Golding also said, “The critical difference is that whereas in the past when you don’t meet your targets you could go to Parliament and say these plans did not work out, when you have a Fund programme, you do not have that facility. If you set your targets and you do not meet them, other adjustments have to be made in order to get back on track.”
The Prime Minister said Jamaica recently received compliments from a highly reputable international financial source which commended the present Government for its discipline in maintaining its fiscal objectives.
Mr. Golding appealed to the people of Jamaica to understand that the country is in the midst of a tempest and that everyone must assist in weathering the storm and taking the country through it safely.