Opposition Senator Dr Christopher Tufton is suggesting that Jamaica?s multilateral partners consider writing off portions of Jamaica?s external debt as part of efforts to address the country?s economic problems.
Tufton made the suggestion while contributing to a Senate debate on his motion calling for contingency measures to be included in Jamaica?s programme with the International Monetary Fund (IMF), and other multilaterals.
He argues that given Jamaica?s history and the likelihood of natural disasters, programmes with multilaterals should have mechanisms that specifically address the impact of anticipated external shocks such as hurricanes.
Tufton says such mechanisms could include debt forgiveness.
He was supported by Government Senator, Mark Golding.
However, Government Senator and trade unionist, Lambert Brown argued that the setting aside of funds for future events could impact spending on current national development programmes.
The motion was approved with several amendments.
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Source: http://go-jamaica.com/news/read_article.php?id=46262
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