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IMF ‘short on cost cuts’


rhondathompson, [email protected]

IMF ‘short on cost cuts’

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THE INTERNATIONAL MONETARY  FUND (IMF) uses the slash and burn approach in controlling excessive government expenditure in its member countries. And the IMF does not identify areas in which these cost-cutting measures should apply, give a rationale, nor look at ways how best to be more efficient.
This was the position of Senator Jepter Ince on the radio programme Down To Brass Tacks yesterday in reaction to an IMF report, that Government should be cautious how it uses National Insurance Scheme (NIS) Funds.
“The IMF says the expenditure is high and they don’t look to identify the areas of wastage …   [their answer] is … you go in with a cutlass and dismantle people and send them home.”
Ince said he had identified “capital works programmes to cut cost overruns [and] when it comes to the estimates we must be more vigilant with Government departments”. (JS)
Read the full story in today’s SATURDAY SUN.

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