Jamaica Gleaner
Published: Friday | June 26, 2009
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Agriculture, not IMF, will save Jamaica economy - Golding
Prime Minister Bruce Golding is insisting that more investment in agriculture, not the assistance of the International Monetary Fund (IMF), will solve the country's economic problem.

Golding was speaking at the first annual production and marketing conference and exposition at the Trelawny Multi-purpose Stadium yesterday.

According to the prime minister, the country urgently needs to increase its agricultural exports.

"No World Bank, no IDB (Inter-American Development Bank) not going to be able to solve the problems of Jamaica because the problems of Jamaica are simply that we import too much and we do not produce enough."

Re-entering imf relationship

The Government is seriously considering returning to the IMF because of a significant drop in foreign-exchange earnings. Earnings from remittance, bauxite and tourism have reduced as a result of the ongoing global recession.

The country will know by July 20 whether the Government will re-enter a borrowing relationship with the IMF.

However, Golding said the IMF's intervention alone will not save the country.

Golding said the Government will be doing more in this fiscal year to modernise the agriculture industry.

"The Ministry of Agriculture is pursuing a strategic marketing programme and it involves not only trying to find buyers, but it involves improving your product quality," he said.

Golding said too many farmers were still not grading their produce and are poorly packaging them for the market.

"This business about taking it out of the fields and loading it in a hamper and go to market, that is old-time business," he said.

"Consumers don't like when they go to the market and when they are buying yam, you buying six pounds of yam and you buying a pound and a half of dirt with it," he added.

Changing perception

The prime minister said the ministry would focus on modernising and improving the perception of the industry.

"Farming must become a profession so that when the man asks a student what do you want to do, some will say they want to become doctors, some may say they want to become policemen. I want students to be able to get up and say with pride and conviction, 'I want to be a farmer!'" he said.

See related story in the Financial Gleaner.

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