As We See It


 

COULD THERE BE ECONOMIC STORM CLOUDS ON THE HORIZON

Editorial
Posted by Editor (Wendy) on May 11 2016 at 3:00 PM
As We See It >> Editorial

COULD THERE BE ECONOMIC STORM CLOUDS ON THE HORIZON.
 
The vulnerability of Jamaica and the rest of the Caribbean, as Small Island Developing States, to natural and man-made disasters, must constitute a nightmare as far as governance is concerned and while there may be a regional disaster fund, it is never enough and basically does not cover loss Gross Domestic Product (GDP).

A current case in point is the gradual increase in the price of oil internationally, up from approximately US $27 per barrel in February of this year, to now hovering over US$40.  Will the price eventually end up over US$100 per barrel?  Will the Petro Caribe arrangement with Venezuela last forever, or is there a possibility that this facility may come to an end sooner rather than later based on the events in that gracious country?

And that is not all, where on the rock bottom will our battered dollar end up? And what would be the likely scenario in this country as a result of all of the above unfortunately happening in the future?  Will we be able to manage our affairs with the majority of our economy being foreign owned?  Do you think we need to have these kind of discussions now?

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