It is often said, that to whom much is given, much is expected. As Jamaican professionals, we have the responsibility to utilize our knowledge, skills and talents to positively impact the political, economic and social conditions within our beloved Jamaica. Whether it is through supporting our family back in the homeland, collaborating on research initiatives that delve into important issues like sustainability and energy conservation, designing innovative business models and technologies to stimulate economic growth, or participating in charity events that provide funds for deserving and disadvantaged school children, we have a variety of tools in our arsenal to contribute to the uplift and development of Jamaica. This year, JAMPACT will focus on concrete ways for contributing to the social and economic development of Jamaica through an insightful discussion series.
This past January, JAMPACT, in partnership with the Consulate General of Jamaica, New York, launched a discussion series titled, “The Quest for Growth: Unlocking the Keys to Jamaica’s Economic Growth and Development.” Over the course of the upcoming year, through a series of discussions and public forums, we will conduct a comprehensive and critical review of the policies, investment opportunities, and business climate in Jamaica, while also discussing the challenges to sustainable economic growth. Ultimately, our goal is to stimulate discussion and initiate the sharing of potential pathways and strategies to Jamaica's economic progress. In the process, we hope to inspire and motivate all of us, as members of the Diaspora, to contribute to the development of Jamaica.
On Thursday, January 21st, we hosted the first installment of this series in a panel discussion titled, “The Business of Good Citizenship.” The spirited and engaging discussion covered the importance of good citizenship, as demonstrated through our involvement in not only the upcoming 2010 U.S. Census, but also mentorship programs that can enable us as young professionals to help guide and develop the next generation. Our panelists included Consul General, Geneive Brown Metzger, Irwine Clare, Senior Partnership Specialist and Team Leader for the 2010 U.S Census, and Donald P. Vernon, Esq., Managing Partner of Vernon and Associates, P.C.
Though many perceptive comments were shared, a few comments were especially noteworthy. The Consul General stressed the importance of fostering a respect for oneself and family, as well as a responsibility and commitment to the interests of Jamaica. Mr. Clare emphasized the importance of participating in local institutions, stating that without empowering communities here, our capacity to develop communities in our homeland is seriously diminished. Mr. Vernon emphasized the importance of addressing systemic and institutional structures—and most importantly, the possible problems within these structures—that may hamper development in Jamaica.
We look forward to hosting more panel discussions in the future, and we encourage you to join us! Please stay tuned for more information on our next general body meeting where we will host our next panel discussion.
Jamelia N. Morgan is a Board Member and Committee Chair for the Think Tank Committee of JAMPACT, Inc. She can be reached at thinktank@jampact.org.
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Ayana, good article. I tentatively support the government's decision to borrow from the IMF, and fully support the IMF's pre-conditions, namely getting rid of Air Jamaica and requiring that those dubious bondholders accept lower interest rates.
ReplyDeleteThere are many Jamaicans who are against the government's sale of Air Jamaica. I am not one. Air Jamaica is an unabating failure; it is totally mismanaged, and as such costs the Jamaican people billions in operational losses. The government needs to let it go. This brings us to another issue. To whom should the goverment sell Air Jamaica? The Trinidadians or the Jamaican pilots? Well, in my opinion, the government should sell Air Jamaica to the party who will provide most benefits, long term and short term, to the Jamaican people. I would be estactic if the Jamaica pilots acquired Air Jamaica. I am, however, not yet convinced that selling Air Jamaica to the Jamaican pilots is the most beneficial thing for the Jamaican people. In assessing the benefits of selling Air Jamaica, our primary concern should not be whether the potential owners are Jamaicans. Do remember that our own Bush Stewart took over Air Jamaica, messed it up and then returned it to the Jamaican government. Let's make sure we don't have a repeat of that. Further, CARICOM now have a single market economy: Jamaicans have the right to own anything in Trindad, and vice-versa.
Let's now turn to those dubios bondholders. The former goverment was reckless, if not criminal, in borrowing money at such outrageous interest rates. Notably, many of those bondholders were well connected to the prior administration, some of them government officials themselves. That's all in the past, however.
Going forward, I would like the JLP administration to fully explain to the Jamaican people how they they plan to administer the borrowed funds. Basic economics dictate that we cannot emerge from our economic predicament until we produce more than we consume. In our case, we simply need to start producing. Why di hell wi a import banana, corn, chicken, etc? Simply borrowing IMF funds alone will not uplift the Jamaican economy. We have to make sure those funds are invested in sectors that will provide positive rates of return. Some of these funds would be well invested in our obsolete, if not dilapidated, infrastructure. Better yet is investment in the agri-culture sector, through loans to farmers and the creation of food processing plants. More importantly, these funds should be efficiently and transparently administered, i.e. NO POLITICAL PATRONAGE.