Prosperity abounds for corporate Jamaica for all of 2019. Holness Finance minister is behooving our people to stay the course because the fundamentals look good, but for who? The business class is elated that the governing party is sticking to all the requirements of the IMF to the applaud of the New York stock exchange, the best recording of profit-making in the world while our people become beggars, homeless, mentally challenge, economic migrants and statistics due to the murders and suicides that plague our island. Holness mentor, Donald Trump, ignited the prospect of war with his unconstitutional and targeted killing of the Iranian general, where is our peaceful response from our government and opposition?
Our Xmas celebration was muted due to the lack of resources available to our people, ignored by mainstream media but felt all over Jamaica especially in the rural areas, visiting Jamaicans eased some pressure by helping out families and friends. Most cane farmers and affiliate truck drivers had no work due to Campari importation of molasses as a substitute for our cane sugar, silence on this topic so as to protect the failed policies of the Holness prosperity agenda. Let's look at the financials of our reality.
Current Account US$ 52 million (Negative)
Total Debt..............2.0 Trillion, external................1Trillion................local..........1Trillion(owed to the rich)
Import....................US$4.5 billion Export..................1.2 billion............(This reveal the false narrative of growth)
Reserves.................US$3.00 billion...........................................accumulated from the high taxation on our people
Remittances............US$ 1.6 billion...............................................from our economic migrants abroad( The reason why our government prefers for the poor to migrate, the rich stay!!)
BOJ Policy rate is ............................0.5% treasury rate...............1.....2% .............................but the lending rate to our people is above 7% a spread of over 5% The troubling issue is the private sector is awash in cash but not investing in our country, they are resorting to investing abroad, they do what they want with no oversight, it is the demand that the IMF put on our country!!
What they don't publish is the payout of over 200 billion yearly in bond payment to the private sector at a cost of 11% to our people.
This IMF/Private sector arrangement cannot work for our country!!! Lies, Fabrication, Division, Murders, and Crime will be the order of the day.
