The moral suasion on which Prime Minister Bruce Golding is relying for the Jamaica Debt Exchange (JDX) to meet its objective seems to be working, as more institutions and groups yesterday voiced support for the programme.

However, while we take heart in that fact we cannot help but lament that it required our turning to the International Monetary Fund (IMF) to elicit this show of patriotism among those who, for years, got fat off the high interest rates on government bonds at the expense of the country.

The prime minister’s request that they stop gouging themselves for the country’s and indeed, ultimately, their own sake, has been long overdue.

But even as Mr Golding’s appeal appears to be finding favour, we would not be surprised to learn that there are some among us who have no intention of giving up their government bonds.

That, of course, is their right. However, they should bear in mind that the high interest rates that they so love are unsustainable and will, quite frankly, be useless if the economy grows even worse and triggers social unrest.

What we expect though — and we should hold the Government to it — is efficient and responsible management of the JDX in order for the programme to have its desired effect.

Indeed, as Mr Golding said yesterday at the launch, the Government is asking the holders of government bonds to make a sacrifice so that this country can have a future.

“It is a contribution that we are asking those people who invested in government bonds (who), in doing so, entered upon a contract of trust… we are asking them to make this voluntary contribution in the national effort,” he said.

Added the prime minister: “And we accept that, in turn, we have to give you an undertaking that, in terms of our fiscal management, in terms of the performance targets that we are going to have to achieve, we are going to do everything possible to make sure that we hold our end of the bargain. If we fail to do so, we would not only have betrayed your trust, but we would have (also) caused you to make a sacrifice without the gains and the benefits of that sacrifice being assured.”

It is our hope that in this case the Government’s word is its bond. For any deviation from that pledge will erode confidence in Jamaica both locally and overseas, and that is a development that we can ill-afford.

Another word on Haiti

We note with concern the chaos and confusion relating to the relief effort in Haiti.

Yesterday, for instance, the United Nations humanitarian spokeswoman Ms Elisabeth Byrs was quoted by The Associated Press as saying that the situation on the ground is “a logistical nightmare”.

Wire services also reported that supply bottlenecks and a leadership vacuum left rescuers scrambling on their own to save the trapped and injured and get relief supplies into the capital.

Observer reporter Ms Erica Virtue, who went to Haiti yesterday, saw first-hand the confusion and lack of co-ordination in the relief effort and said that aid and rescue teams are unable to get to the people and communities most in need of assistance.

It is our hope that the authorities will get their act together quickly so as to avoid frustrating those who have responded so readily to the country’s needs.