In its current circumstances, Jamaica insists to maintain a borrowing arrangement with the International Monetary Fund (IMF). Yesterday, the People’s National Party (PNP) has indicated that a three-year facility with the fund would become its priorities if it wants to form the government after the December 29 general election.

But Dr Peter Phillips as the party’s shadow finance spokesman, also explained that it is the party’s position which the recovery of the Jamaican economy that is resting not only on contraction – a fault he has identified with the Government’s stalled agreement with the International Monetary Fund – but also on generating economic growth. Yesterday in the first coherent, Phillips told journalists that there was not a great window available to you to come to an agreement.

Phillips also, like the Government, have done commitment the Opposition party to tax reform to carry more people into the net, a restructuring of the public sector, as well as a reform of the pension system for government employees for contributing to their pensions. The PNP’s unequivocal commitment to make agreement with the IMF was probably the most significant undertaking, coming to face of the Government’s suspended standby agreement with the fund and Finance Minister Audley Shaw’s equivocation in a CVM-TV interview Wednesday night on what the Jamaica Labour Party (JLP) administration, if re-elected, it would do.(Bloomberg.com)