The Pm Should Listen to Mr Livshits
Weekly Gleaner, The; North American ed. › November 17, 2009
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Summary
At a forum hosted in Kingston last week by the Jamaica Chamber of Commerce, Mr [Alexander Livshits], having looked at Jamaica's debt situation, declared: "I believe that the time has come to start a negotiating process with the London Club of creditors to reach a restructuring deal with private holders of Jamaica's foreign debt, which accounts for approximately 60 per cent of total external public debt."
It is an argument that this newspaper first advanced late in 2008. And in August, as the Government went into a retreat, in the face of a downgrade by Standard & Poor's (S&P/, from the euphemistically labelled 'liquidity management programme' offered by local banks, we sought to stiffen its resolve to proceed. S&P claimed that the scheme had the odour of default.See the full content of this document
Extract
The Pm Should Listen to Mr Livshits
AS THE country's leaders are wont to boast, Jamaica has a proud and enviable record of paying its creditors. But there comes a time when people have to face reality, p...
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