All hail Audley!
Dear Editor,
A few months ago I felt obliged to publicly ask the Opposition and several critics of the present administration to give Mr Audley Shaw time to prove himself as finance minister. Jamaica was in the midst of the world financial meltdown and critics complained. Audley Shaw approached the IMF too late and as a result Jamaica would not get the much-needed capital injection in time to prevent us defaulting on our sovereign debt. The postulation of the JDX was greeted with downgrades by international rating agencies and this became fodder for the Opposition spokesman on finance, Dr Omar Davies.
Fast-forward six months and while there is no need to gloat, Mr Shaw has obviously silenced even his most vociferous critics. The articulate Dr Davies has been uncharacteristically quiet. In the midst of the worst international financial crisis and one of the worst crime waves in our nation’s history, Mr Shaw has brought stability to the economy, making Jamaica much more attractive for investments. The government must be congratulated on the first passing of the IMF test. More recently, the European Union’s head of delegation praised the government for its performance which was considered better than that of most Caribbean countries and countries within the EU.
The success of the JDX has resulted in the upgrading of Jamaica’s sovereign debt and the improvement of long-term economic prospects. Interest and treasury bill rates are heading in the right direction. The future looks bright once more. All hail Audley
Phillip Chambers
phillipdcchambers@yahoo.com