As We See It



Posted by Editor (Wendy) on Jun 08 2016 at 3:00 PM
As We See It >> Editorial

Month after month, the Governor of the Bank of  Jamaica and the head of the Planning Institute of Jamaica, use their cozy offices to tell Jamaicans about the state of affairs with our macro economy, which sector is limping, which sector is showing signs of life and which sector is comatose based on available data from the various agencies, all delivered is a passionless manner that makes it difficult for viewers not to yawn.

In the case of the Bank of Jamaica, billions of dollars have been wasted over the years attempting to prop up our ailing Jamaican dollar because legal currency speculators make a fortune daily buying and selling foreign exchange at the overall expense of the Jamaican taxpayer, which adds nothing to our Gross Domestic Product (GDP), as nothing is being produced, so why on earth are we allowing this type of activity?  Can you imagine if these billions were being put into agriculture?

Turning to the Planning Institute of Jamaica, an important institution without an office outside of Kingston.  We are certain that their edifice on Oxford Road was not established to be a museum, but a place staffed with planners to work on plans for Manchester to prepare for life after bauxite and over in Westmoreland and Clarendon on plans to address life after sugar cane, especially as our country continues to navigate treacherous economic waters, it is obvious that we must find new pillars for our economy.