1) Jadia Jn Pierre argues that the Saint Lucian government made no adjustments to mitigate the effects of the 2008 financial crisis, contrary to what the IMF claims. 2) The IMF says that Saint Lucia was significantly impacted by the 2008 crisis, with economic activity contracting 3.6% in 2009. However, Jadia disputes the IMF's figures on economic growth in subsequent years. 3) The document criticizes Jadia for inaccurately reporting economic growth figures and misquoting statistics from the IMF, suggesting that both major Saint Lucian political parties have provided inaccurate economic information at times.

1. Jadia Jn Pierre Now Arguing with the IMF and Telling Lies.
Written by Lucian Rebel
Monday, 23 June 2014 14:28 - Last Updated Monday, 23 June 2014 16:25
Jadia Jn Pierre says: -
While the economic and financial crisis swept over the world in 2008/9, our government made
no adjustment to mitigate the subsequent fall out.
The IMF say: -
St. Lucia has been significantly impacted by the 2008–09 global economic and financial crises,
as the tourism demand from the main source economies declined on weak employment and
consumption.
Economic activities contracted by about 3.6 percent in 2009 after expanding on an average by
about 3 percent in 2004–08. The primary balance turned to a deficit of 0.5 percent of GDP in
2009 from a surplus of 2.3 percent in 2008, reflecting the counter-cyclical measures taken to
cushion the impact of the crisis.
While the economy was on a path for a gradual recovery in 2010 led by tourism sector,
St. Lucia was hit hard by Hurricane Tomas, resulting in a projected reduction in the real GDP
growth by 1.2 percentage point from the pre-hurricane growth for 2010 to 0.5 percent
post-hurricane.
Growth and Inflation: Despite the impact of Hurricane Tomas and its damage to the
agricultural production and infrastructure, the real GDP is projected to Grow
moderately by 0.5 percent in 2010. A rebound of 4.1 percent growth is projected in
2011, led by the reconstruction activities, and projected to average around 3.0 percent
in the medium term. Inflation is expected to remain low at around 2 percent, anchored
by the currency board arrangement.
She says: -
The UWP was elected on December 11, 2006.
The records from the Ministry of Finance reveal that in 2007/8, growth was -0.41 percent, while
in 2008/9 the economy grew by 3.44 percent. This is in direct conflict to figures supplied by the
IMF. Accourding to the IMF growth was averaging 3.1% per annum in 2007 and 2.8% in 2008.
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2. Jadia Jn Pierre Now Arguing with the IMF and Telling Lies.
Written by Lucian Rebel
Monday, 23 June 2014 14:28 - Last Updated Monday, 23 June 2014 16:25
In 2009/10, Saint Lucia registered growth of 0.62 percent and -0.22 percent in 2010/11. Not
according to the IMF.
To put things into perspective - Dr Kenny Anthony also supported a 7.5 percent wage increase
for public servants in 2009, even after he had personal knowledge that the nation's debt-to-GDP
ratio had surpassed the dangerous threshold of 60 percent during his tenure as prime minister
of Saint Lucia between 1997 and 2006.
Yet, as opposition leader in 2009, he engaged in political mischief, which no doubt misled the
public servants and inadvertently forced the hand of the then prime minister Stephenson King to
enter into a difficult agreement that hinged primarily on the need to save his fragile government.
Don't forget that the stick that beats the white horse can also beat the black horse. Be sure of
one thing - your sins will eventually find you out.
Despite a pronouncement by then Finance Minister, Hon. Stephenson King that the economy
grew by six percent in 2011/2012, actual growth was 1.33 percent. Even the IMF got it wrong
by projecting 4.1%. But
weren't SLP in office for much of this time?
Over the five year span, the economy grew by 3.37 percent or at an average annual rate of
0.952 percent.
I calculate this to be 4.76% on the figures you provide which equates to your 0.952% per
annum. 3.37 divided by 5 is 0.674%. You totally misquote a 5 year figure by underquoting it to
the tune of 1.39%. Is that creative accounting or a deliberate attempt to mislead?
She then asks: -
Who then, is better at growing the economy?
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3. Jadia Jn Pierre Now Arguing with the IMF and Telling Lies.
Written by Lucian Rebel
Monday, 23 June 2014 14:28 - Last Updated Monday, 23 June 2014 16:25
Well based on your mathematical prowess, it's certainly not you. If you are representative of the
rest of the brains within the SLP then not them either as the figures will be riddled with
inaccuracies. Equally, if the inaccuracies you have brought to light with statements from
members of the UWP, nor are they.
You take it upon yourself to lambast the opposition when they quote inaccuracies yet, as we
can see, your own statements are so full of holes that a sieve comes to mind. You castigate
others but ignore your own shortcomings.I suggest you either get a new battery for your
calculator or go back to school and refresh your basic mathematics and comprehension skills.
So, as we can see, the figures differ between you and the IMF. It begs the question - does the
incumbent government (UWP or SLP) give different figures to the IMF to those that they publish
to the general populace? I notice that 2013 is conspicuous by its absence.
We should not act self-righteously when our party is in power, yet willingly participate in devious
activities that are adverse to Saint Lucia's economic and financial interest, when our party is in
opposition.
Well! - Where has that left us and what conclusions can we draw for the next election? Both
parties (currently) seem to be as bad as one another. Maybe it is time to vote for "None of the
above"
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