If COVID doesn't get us, the Gov't willTuesday, October 12, 2021
It is not in the poor's interest to hike interest rates. Ever since this Government came to power it has been doing things unabated to 'soak' the poor .
Their two lasts blunders of raising interest rates and providing private security for some government officials have met with strict opposition from major stakeholders across the country and rightfully so.
With the 49/14 majority of the September 3 General Election having got to their heads, this Government appears to be bypassing the technocrats and other proven and tested civil servants to pluck advice from the bosom of the genetically and biased individuals who don't care about the vulnerable in our society, but only for their selfish agenda.
Who could have advised the Government to hike the interest rates at this time?
Jamaica is, probably, the only country on Earth to effect such an ill-advised and ill-conceived action. Look at the timing — during a pandemic and when businesses are seeking capital to stock and restock for the Christmas season. All of the effects of the rate increases will be exponentially passed on to the most vulnerable and poor in our society.
The Ministry of Finance is claiming that the rate hike will stem a temporary inflation issue and also stabilise the exchange rate. But, according to many who speak from a position of authority and competence, the action of the Government will have the opposite effect and will plunge more people below the poverty line and reduce their quality of life.
Their announcement to use private security for Government officials is just another way to find work and increase revenue for the security firms.
The tenure of this Government is replete with too many incidences of corrupt actions and in the same breath provide a template for a repetition of corrupt actions through the very same Government, its agencies, and agents.
The popular saying in some quarters is, if the Scribes don't get us the Pharisees surely will. So, if COVID-19 doesn't get us and, if crime doesn't get us, then the Government's corrupt and ill-advised actions will. “Any way wi turn makka jook us.”
All I can say is, “Dawg nyam wi suppa” this Christmas — at least those who will have a supper for the dog to eat.