As We See It
OUR AMAZING BOJ
|Posted by SR (riley) on Feb 28 2017 at 1:41 AM|
|As We See It >>|
Readers will recall successive governments navigating that International Monetary Fund (IMF) agreement and telegraphing the massive devaluation of the Jamaican dollar over the past five years, ostensibly to correct the overvalued currency as determined by our current masters, which apart from making the country poorer, has provided a multi billion windfall for our owners of capital, who apparently are now suffering from financial obesity, hence the new policy announced by the Bank of Jamaica to make the hoarding of foreign exchange less attractive.
This is the same BOJ that has been throwing away millions of US dollars over the years at a discount to currency dealers in a futile attempt to slow the rate of depreciation of our dollar, making the rich richer. The guys at the BOJ ivory tower, predicted massive increases in export while ignoring the fact that imported inputs,which now cost significantly more, make up a large component of our exports so devaluation has and will not help, it all does not make any sense.Back