Opposition Spokesman on Finance, Planning, Growth and Economic Development, Audley Shaw, today said that the Finance Minister Hon. Dr. Peter Phillips has done precious little in his press conference to clear up what is emerging as a debacle in securing an agreement with the IMF.
Mr. Shaw said that after a fifth Cabinet Retreat which reported that all prior actions for an agreement has been met, the Finance Minister has now admitted that the promised deadline for a March agreement will not be met and he hopes for an agreement “as soon as possible”.
Mr. Shaw said that this latest state of confusion in the management of the economy is compounded by the lack of transparency in a reported private debt exchange and the mystery surrounding discussions taking place with other multilateral institutions.
Mr. Shaw said that urgent action must now be taken by the government to secure an agreement and restore confidence in the economy, stop the decline in the value of the dollar, halt sharply rising prices and job losses which are increasing by the day.
Mr. Shaw also called on the Prime Minister The Most Hon. Portia Simpson-Miller, to assert herself and take control of her government that is now drifting like a helmless vessel in confusion and leaving the people of Jamaica in a state of panic and bewilderment.