Caricom News reported:
In a strategic move to boost investment in the country, the Embassy of Jamaica in Washington, D.C., this week launched the ‘Jamaica Rising’ investment campaign, bringing twenty (20) high net worth potential financiers together to look at a series of opportunities available in Jamaica.The luncheon brought together chairmen and executives of major corporations, investors, and entities, among them Marriott/Ritz-Carlton Hotel, Viacom, the Carlyle Group, Clark Construction, the Spectrum Group, the World Bank Group and the International Monetary Fund.
Here's a potential reaction to Jamaica remaking itself for private equity underwriters (PEU's):
Wa we doin' offerin' whole heap a money to stosh samfi (rich con men)? Don' be bringin' mo' Babylon (corruption) with dey monagement fees and special distributions to da island. Dey may make promise to hep, but offa quattle (worthless British half penny). Zee and ovastan (see & understand)..As for the IMF connection, isn't their ex-Chief in trouble for forcing his mon juice on a hotel maid?
Dat mon hat har (hurt her). Ya tellin' me des odda mon wan to bring dey strong money to relieve our sufferation? No tanks! I smell somtin' renk.PEU's remain detectable, except when hidden by open and transparent governments. Keep an eye out for the Jamaica Rising Investment Campaign:
The partnership would involve "international financial institutions in a proposed Diaspora development bond the Ambassador had highlighted in her presentation, and expressed confidence that such a financial instrument could raise the US$2.5 billion, as an initial target, to fund the infrastructure re-development of downtown Kingston."
Global competition for PEU capital ensures the race to the lowest global common denominator on worker pay/benefits, taxes and regulation will continue. Right now, PEU's are clearly winning.
