The sliding of the Jamaican dollar Jm$100.00 to $1.00us has now reach crisis proportion; this simple means a different approach needs to be implemented. The bank of Jamaica participating in the capital market is not only the solution. To peg the Jamaican dollar at 100jm to 1.00 us is not the solution in this crisis. This needs a long term plan. Let’s talk about productivity; means output per worker per hour, this is what determine the standard of living e.g. America general motor with capital equipment worker output 200 car/ hour per worker high productivity= high disposable income= high standard of living. This government need to stop assess the situation. Suggested solution, if there is any funds available through IMF or any other source Jamaica needs to employe a much workers as possible on a six months emergency plan, objectives clean up debris, clean up drain, clean up beaches, remove abandon cars from road side, clean up beaches, during this 6 months period restructure national waste management, make garbage collection a high government priorities a result This filter capital though the economy. After this crisis period government should embark on a massive job creation program increase government services more efficient and effective. With limited capital equipment increasing productivity is the only solution to increase Jamaicans standard of living and stop the dollar devaluation.
Posted on: Tue, 11 Jun 2013 02:11:50 +0000