Jamaica is close to agreeing a new IMF programme (see Update 72). The country’s 37-year relationship with the IMF, described by the newspaper Jamaican Gleaner as the “grand endorser of economic reform” has been fraught with difficulties. Many, including former prime minister Edward Seaga have publicly criticised “the political fallout” of the IMF’s structural adjustment programme. In January finance minister Peter Philips called for tax and public sector wage reforms prior to the IMF programme, saying that “sacrifices from all sectors of society” must be made to achieve economic stability.
IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
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