KINGSTON, Jamaica, CMC—The main opposition People’s National Party (PNP) on Monday welcomed Finance and Planning Minister Dr. Nigel Clarke’s appointment as deputy managing director of the International Monetary Fund (IMF).
However, the party wonders if his “departure also brings into question the government’s ability and commitment to addressing the ongoing economic burdens facing the Jamaican people.”
The IMF managing director, Kristalina Georgieva, described Clarke’s appointment to the senior position of the Washington-based financial institution as “a tremendous addition to our skills and capabilities, strongly supported by IMF staff.”
Georgieva said Clarke is expected to take up the position of Deputy Managing Director, effective October 31, and will succeed Antoinette Sayeh, who steps down on September 12.
Speaking at a roundtable with Caribbean journalists, Georgieva said that the appointment is “a testament to Nigel Clarke’s skills, experience, and dedication to public service, and a critical reflection of the voice and credibility of the Caribbean region.
“You have been on the front line of one of the most dramatic challenges we face, the climate challenge, and you have a lot to teach the rest of the world how to handle it. So thank you, Caribbean region, for gifting us. Nigel Clarke to help us lead the fund in the next years,” she said.
Prime Minister Andrew Holness described Clarke’s appointment as “a historic and important development,” saying, “The IMF plays an indispensable role in the world economy, promoting global financial stability and monetary cooperation in service of its 190 member countries. As such, the position of Deputy Managing Director is global in scope.”
Holness said no citizen of Jamaica, the Caribbean, or Central America has ever served at this level in the IMF’s 80-year history.
“It is to the benefit of Jamaica and the Caribbean region for one of our nationals to serve in such a consequential global position. This development is, therefore, a tremendous net gain for Jamaica and the Caribbean. Furthermore, this elevation of Minister Clarke demonstrates the depth, strength, and capacity of my administration”.
But in its statement, the PNP, while congratulating Clarke, said his “departure comes at a critical juncture for our country as we face serious economic challenges, including the spiraling cost of living and the negative growth impact of the recent hurricane…
“We are constrained to ask whether his move, at this time, signals the abandonment of a sinking ship, leaving the Jamaican population to grapple with these unresolved issues.”
The party called on the government to provide immediate clarity on the transition plan for the Ministry of Finance, how it intends to manage the current economic pressures, and what strategies will be employed to mitigate the impact on the most vulnerable in our society.
The PNP said it stands ready to work constructively in the national interest to ensure that Jamaica navigates these challenging times and remains committed to advocating for economic policies that prioritize inclusive and sustainable economic growth and the well-being of all Jamaicans.
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