BY HARRY RUSSELL

THE OLD SAYING that there is more in the mortar than the pestle surely merits reincarnation sometimes. Far be the thought that I should qualify to take up Mr Latibeaudiere's "fire rage", but as a citizen of Jamaica I feel entitled to ask questions. Does not the Central Bank of Jamaica operate under the control of a board of directors? Would they not need to direct, agree, and control the emoluments of all staff including the governor's? It is not usualfor a representative of the Ministry of Finance to siton the board of the bank and represent the interest of the ministry directly.

It may be that one government favourably rewards a governor for exceptional services by allowing an exorbitant salary. If this government ceases to hold sway, the ensuing government has two years or a term of election to deal with the apparent aberration. To go along with it, but then deal with it at a critical point in negotiating with the IMF, is strange to say the least.

Surely one would wish to put the best foot forward! Surely one would wish to be able to defend a position of not wanting to agree to a mass layoff of the civil servants! Surely one would wish to preserve some flexibility in dealing with one's country debt seeing that a largeportion of it is owed to the private sector! One would not want to see one's hands tied in respect of repaymentto that group of lenders.

I agree that the level and the areas of the emoluments are high.

But before we go any further, let us examine the emoluments. JAM$38 million per year translates into BDS$72 000 per month, a hefty package. Some consultants in the middle range and for long periods earn BDS$1 800 per day for a seven-day week plus hotel accommodation and a car. This translates into BDS$64 000 per month,plus a car! Pretty close!

Could there not have been another way of dealing with the situation? The IMF may not be worried about who it has to face in the negotiations in as much as its position may be intractable and intransigent. Whether Mr Latibeaudiere was fired or whether he resigned might be irrelevant.

Back in the 1980s when Cuba had stronger links with Russia and the missile crisis was still fresh, United States President Ronald Reagan poured considerable dollars into Jamaica. No crisis exists now so Jamaica will hardly feature that prominently. In any case President Barack Obama has his hands full.

The ordinary Jamaican has had a rough ride overthe past 30 years and has seen the value of his currency depreciate by nearly 900 per cent. Wages have no way matched this decline. In the 1980s while passing through Barbados, a former prime minister advised that over30 per cent of Jamaicans lived below the poverty level.

Can you imagine the present status? Manley was supposed on election promises to close the gap between the haves and the have-nots, instead he declared "democratic socialism" or some Thespian bombast.

However we spin it, the situation is critical. What can we in the Caribbean do now to help Jamaicans before they slip into a Haiti situation? Trinidad and Guyana are the most likely candidates to step forward. Trinidad has oil and gas resources; it also has access to cheap loans because of its relatively low debt standing. Guyana is a bread basket whose assistance can ameliorate the importation of essential food for subsistence survival.

Poor Barbados which once pitched in with US$10 million does not have "what Paddy shot at" now. But because we boast of our intelligence, we should be the one organising a Caribbean-wide fund from the private and corporate sectors to help those in Jamaica who will fall through the cracks or the gulfs that will be created. The Caribbean Development Bank, the Inter-American Development Bank and other Caribbean international organisations should be targeted.

Sixty cents from each dollar in taxes collected go to repayment of debt. That 60 cents will increase as more debt may be poured on by the IMF; that 60 cents may increase as the crisis worsens and as less taxes are collected and the spiral gathers momentum, and so the time to help is now.

But on second thoughts we in Barbados are already paying over 50 cents of taxes towards debt and expect to pay more when taxing time come around next year if the spiralling fiscal deficit is to be rescued. Am I therefore asking the blind to lead the blind?

l Any comments may be directedto Harry Russell at quijote70@gmail.com