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Firing BOJ governor is right
Friday, November 06, 2009
Dear Editor,
In response to your November 4 article, "Governor lived large", written by Alicia Dunkley, I agree with the prime minister's decision to dismiss Central Bank Governor Derick Latibeaudiere because of his contractual salary agreement.
It's an outrage and it is disgusting that any Jamaican citizen would seek to take a job in his country and demand a salary that would outrank the salary of his counterpart in a vastly bigger country than Jamaica and the wealthiest country in the world, even if he is the only one qualified for the job.
It is frightening to know that our country is announcing that we are in a financial crisis yet one person is receiving a salary of $38 million per year, plus car and benefits of all kinds. How can Jamaica afford to pay this type of salary? It is beyond the reach of the Jamaican economy and the pockets of the citizens.
As a young person, I question the patriotism of the past administration and all those who were involved to sign off on this contractual arrangement. I also question the loyalty of the former Central Bank governor towards his country.
Based on the prime minister's statement, the current administration sought to use moral suasion to ask the governor to reduce his compensation package, taking into consideration the current status of the country's economy and our present stage of development.
It is disheartening to know that the governor did not take the prime minister's suggestion, but continued to burden the pockets of Jamaicans to meet his monthly salary and benefits.
I encourage the prime minister to honour his decision to review all the contracts of employment which involve a compensation package of more than $10 million at the Central Bank, but not only for the bank but for all public sector workers. As a country facing economic predicament, it is not logical for public sector workers to be receiving these exorbitant salaries.
We often hear persons who serve the country declare that they are patriotic, altruistic and loyal, but quite often we have seen the opposite. Do they use these words only to appear noble? I wonder.
Sherrina Smith
sherrina@stu.ncu.edu.jm
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