Election result takeaway #2: In recent elections, a consistently successful strategy for an opposition has been to promise a big bag of fiscally irresponsible giveaways. For the first time this century, it didn't work.
Let me state it right here and now!! Prime Minister Andrew Michael Holness must be credited for identifying this awesomely intelligent and brilliant young man to manage our financial affairs. Congratulations Nigel Clarke, we love you.
The Contingencies Fund is held in the Bank of Jamaica and managed by the Accountant General.
Our economic independence is enhanced by improving our capacity to finance emergency expenditure associated with natural disasters.
#EconomicIndependence#LookingAhead
The economist Shekhar Aiyar has called attention to the wastage of a country's intellectual/economic potential due to inequality. Inequality results in talent misallocation - opportunities going to the privileged rather than the best. Reducing inequality is good economic policy.
Jamaica's debt/ GDP ratio hit 96% one year ahead of schedule; should be 60% by FY 2025/26. No other country on earth has done this; and without social upheaval. Social partnership matters.