THE EDITOR, Sir:
HAVING READ the speech made by Scotiabank's president/CEO at the annual Carlton Alexander Award Banquet held on Wednesday, May 18, 2005 I was shocked by the statement "After 43 years of independent democratic government, what is the state of Jamaica? I beg to suggest that today Jamaica is a failed state. And this is obvious to even the most casual observer." The definition of a 'failed State', according to the Global Policy Forum, is as follows: "A failed state can no longer perform basic functions such as education, security or governance, usually due to fractious violence or extreme poverty."
A check of Scotiabank's profit and loss statements for the last three years 2002-2005 shows that the bank's net profit accumulated over the period was in excess of J$14 billion. This is quite an achievement in a country that Scotiabank's president/CEO considers a "failed state". In my opinion J$14 billion in any language is a lot of money. This whopping profit is made in an environment where civil servants, teachers, police and minimum wage earners struggle on a daily basis to meet their basic needs.
CHALLENGES
Jamaica is not without its fair share of problems. We have challenges in fighting crimes in our health care system, in our educational system and in our justice system. However, Jamaica is not alone in facing these challenges as many other countries in the world have much greater problems and issues than what we currently face.
Jamaica is a country with many positive elements. For instance, we still have a vibrant two-party democracy, and a justice system that produced some of the finest jurists in the world. Our educational system (despite the problems) has produced some of the finest scientists and bankers. There is also freedom of speech, which Mr. Clarke has utilised very well. Jamaica in the last five years has enjoyed unprecedented levels of foreign direct investments in information technology, bauxite, tourism, roads and infrastructure development. In recent times the World Bank has reclassified Jamaica as a middle income country.
Scotiabank over the last century has been good for Jamaica. This, I think, should be maintained.
I think this reference to Jamaica as a
failed state by Mr. Clarke was unfortunate, unwarranted and deserve a retraction and an apology to the Jamaican people, as Jamaica is not a "failed state".
I am etc,
COURTNEY O. CURRIE
72 Hope Road
Kingston 6
