(Jamaica Gleaner) – Prime Minister, Bruce Golding has sought to defend the government’s imminent return to a borrowing relationship with the International Monetary Fund (IMF).

Golding says with Jamaica likely to lose US$1.3 billion in earnings resulting from the global economic crisis, it is necessary to borrow funds to plug the gap, otherwise the country will suffer the consequences.

He was speaking on Wednesday night at a town hall meeting in Ocho Rios, St Ann.
Golding also brushed aside criticisms being levelled at his administration because of the absence of Finance Minister Audley Shaw from the team that recently held talks with the IMF.

He says the finance minister did not attend the meeting because there was no need for him to do so.

Shaw had also earlier said that it was not necessary for him to attend the talks.

The Prime Minister further stressed that as a member of the cabinet, Wehby has equal rank and is therefore quite capable to lead the IMF talks.

He says the team that held discussions with the IMF was the one that would normally meet with the Fund with the exception of the governor of the Bank of Jamaica (BOJ).