Pop-Down Wednesday, October 2, 2013

I am reblogging today from Petchary’s blog. I read this blog faithfully as it is always a reliable indicator of what’s happening in Jamaica, free of politics, free of partisanship, free of spin. I especially enjoy Emma’s diligence and gesture of respect of listing the names of people who have been killed. The media here tends to sensationalize murders and killings and shootings, so presenting the names is a good reminder that these are people who have families and friends, who died unnecessarily. Today’s post also accomplishes something I have been meaning to do: characterize the extent of Jamaica’s financial troubles. Emma does an excellent job of this today. Take a read and you will better understand part of the reason the country is in such trouble. And she gives me a mention:) Keep it up Emma!

Petchary's Blog

Everything is pop-down again, it seems. (To my non-Jamaican readers: “pop-down” is quite a broad term meaning “exhausted, ruined,” or to coin another Jamaican phrase “mash-up.” It can also mean something is a flop or a failure).

The pop-downnest thing that I can think of right now is the economy. OK, we passed the first IMF test and re-submitted our proposal for completing tax reform measures (which are now late). BUT… (please note, I am not an economist. The notes below are just my layperson’s observations)…

* “There is no money in the system,” says local financier Aubyn Hill. He points out that the Bankers Association of Jamaica has been pleading for the Bank of Jamaica (BoJ) to put more Jamaican Dollars into the system, but the BoJ  is “mopping up.” Interest rates will start rising, no doubt.

* The Jamaican Dollar is on a continuous downward slide. Let’s…

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2 thoughts on “Pop-Down Wednesday, October 2, 2013

  1. Thanks so much for reblogging my post, Kate! I appreciate this so much and I am honored. Well, I tried with the economy because it’s not my forte at all, but just little things I am noticing (actually probably rather big things). As for the murders, I don’t know how else to do it but want to convey that these are Jamaicans, not statistics or as you say the occasional sensational story for us all to cluck over and then forget. For example, I noticed two or three gentlemen in their sixties who lost their lives, and it saddened me greatly. Thank you again!

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