A JTUM warning for Gov’t

Speaking at the Conference of Shop Stewards and Branch Officers (COSSABO) of the JTUM held at the OWTU’s Paramount building in San Fernando, last week, Roget, said government’s claim of having no intention of entering into agreements with the IMF may be “the greatest ruse.” “The IMF was here,” Roget reminded representatives of the sixteen trade unions that comprise the JTUM. “There was (sic) discussions with the IMF, so what might very well happen to the country, is that they are preparing to implement IMF conditionalities without the IMF.” The IMF acts as both a credit facility and a source of technical advice and support for countries. In order to access IMF loans, countries must agree to certain “conditions” which, the IMF says, are structural adjustments aimed at securing the country’s ability to repay the loan.

The IMF has been historically criticised for forcing unfavourable conditions unto ailing economies. Trinidad and Tobago took a loan from the IMF in 1986.

“You have to brace yourself for the type of reaction that will come from the JTUM,” Roget warned. “We are not prepared to have a cake sale or a garage sale to sell out all our state enterprises to balance a budget.”