After almost two years of negotiations, the IMF has allowed Jamaica to obtain borrowed funds to the extent of USD1.0 billion, or $100 Billion JMD, and generally freed credit to the country. This is somewhat more than what we asked.

There were many persons who thought the negotiations were not to succeed; like everything else, crime, management of Ministries, pending reforms, all showed not much hope was present in the future of Jamaica. Now it seems that a force has closed the door of want, and has given the Country of Jamaica and its people, another chance. This chance we cannot ignore; it is the opportunity people were looking for; it is the means to an end which should result in reversing most negative effects and feelings.

“There is a time in the affairs of men, which when taken at the flood, leads on to fortune: Ignored, all the voyages of our life lie in shallows, and miseries: On such a sea we find ourselves, and we should take the current, lest we lose our ventures.”  (Shakespeare)

Very little, if any, celebration should take place: We have to quickly move to capture the future. I do not know how many sleepless nights were endured by Dr. Phillips, but I am sure quite a few. All the producers should step up production, the farmer’s plant more, the technologists create more energy, and the businesses promote a higher level; we are people, and though the task has taken longer, we shall overcome. Just to remind readers of   Dr. Phillips’ personal record, I reiterate:

Dr. Peter David Phillips is currently the Minister of Finance and Planning. He has had a distinguished career in government, politics and academia. He has served in a number of ministerial capacities: Minister of National Security, a position which he held for six years and had significant success in reducing illegal narcotic flows through Jamaica and led a reform effort for Jamaica’s Security Forces. Prior to that, he was Minister of Transport and Works from 1998 to 2001. Other Matters: He achieved major success in reorganizing the transport system in the corporate area and in the rehabilitation and improvement of the road network across the island. He also served as Minister of Health between 1995 and 1997. A graduate of Jamaica College, Dr. Peter Phillips earned a Bachelor of Science in Economics and a Master of Science in Government from the University of the West Indies. A Ford Foundation Fellow, he completed doctoral studies at The State University of New York at Binghamton, in International Political Economy. He has also been a Fulbright Scholar and has done academic work at the University of Florida at Gainesville.

He is a former Lecturer in the Department of Government and the Consortium Graduate School at the University of the West Indies; and has published extensively on a variety of Caribbean development issues.

Dr. Phillips is to be congratulated in his effort to turn around the Jamaican Economy.  Let us hope that adherences to an ethical future for all Government Services, and Private Sector leaders, will now pervade, and our application of these funds results in Growth for our Country, by the Grace of God.


(541 words,



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