Government faces more criticism over IMF statement

Monique Grange, Assistant News Editor
The Gleaner/Power 106 News Centre

The Government is this afternoon facing more criticism over its statement regarding the negotiations with the International Monetary Fund (IMF).

Coming out of last week's two-day Cabinet retreat, Prime Minister Portia Simpson Miller gave no timeline as to when the agreement with the IMF will be completed.

But in a statement released to the media, she noted that a programme of work will be implemented shortly to advance work on some key areas that will impact the deal.

Financial analyst, Ralston Hyman, believes the government is trying to detract from the main issue that its December projected timeline for finalizing the agreement was premature from the beginning.

Hyman says the government also failed to give specific details on how it intends to deal with the country’s existing economic woes.

According to him, it is obvious that the government has not made much progress in its discussion with the Fund.

Meanwhile, the government has reiterated that while it understands the public’s concerns over the speed of the IMF negotiations, it’s committed to completing the exercise that will be in the best interest of the country.

Yesterday, another financial analyst, Errol Gregory, criticised the Simpson Miller administration especially for its “oversight” of the foreign exchange market.

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