Jamaica Gleaner: “Tough decisions coming – Golding – Holders of government debt safe as administration slashes expenditure”
The Government is again warning Jamaicans to brace for painful changes as it prepares to institute measures to guide the island out of its present economic pickle.
Jamaica Gleaner: “Drastic spending cuts in July underscore fiscal dilemma”
Prime Minister Bruce Golding’s disclosure on Tuesday that the adminis-tration had, in the first four months of the fiscal year, spent $18 billion less than it projected suggests “savings” in July alone at nearly five times the level of the previous three months combined.
Jamaica Observer: “Rating agencies’ credibility doubted again”
As Jamaicans awoke in high patriotic spirits on Independence Day, the news of Standard & Poor’s (S&P) downgrade seemed like a slap in the face.