Both the director of the Planning Institute of Jamaica, Dr Wesley Hughes, and the governor of the Bank of Jamaica (BOJ), Derick Latibeaudiere, have indicated, in no uncertain terms, that Jamaica, like most other countries, is in the throes of an economic crisis. This admission by the two technocrats came after several months of denials by the political directorate. The advice from the two technocrats is that the country needs to 'batten down'.
What is absent in all of this is a clear crisis-management plan from the Government. This was most evident last week when we witnessed the BOJ and the Jamaica Manufac-turers' Association arguing over the interest-rate policy and the minister of industry and commerce and the minister of finance giving conflicting pronouncements on the important issue of capital control.
The prime minister needs urgently to call the sector leaders, his Cabinet ministers and the chief technocrats to a national summit geared towards developing a national-response plan to deal with the present crisis and to chart a clear course going forward. Emanating from this summit should be specific and unequivocal answers to the following issues:
1. What are the short term objectives of the Government?
2. What are the major priorities of the Government at this time?
3. What is the policy mix that will be employed?
4. What are the major tasks and responsibilities of the various sectors?
5. What is the responsibility of the citizenry in this crisis?
1. What are the short term objectives of the Government?
2. What are the major priorities of the Government at this time?
3. What is the policy mix that will be employed?
4. What are the major tasks and responsibilities of the various sectors?
5. What is the responsibility of the citizenry in this crisis?
A crisis management plan is urgently needed before things fall apart.
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