The Editor, Sir:

This is in response to the letter by Rohane Riguer, published on February 21.

Dear Rohane,

I read your note to the editor, but may I ask that, before writing, you understand the points raised, as my recommendations had nothing to do with the net international reserves.

What I was referring to was the cash reserves held by the Bank of Jamaica for the commercial banks. They pay no interest on that money. A few managers said they would be happy to earn something on those funds and so made a move to try something different and out-of-the-box.

Saving jobs

This was to use a very small part of it to help save as many of the jobs and maintain the existing companies which pay the taxes and the governor's salary, also. These are not normal times and as you can see, every country is trying something different (for example, the United Kingdom is now printing money), while our governor remains on the same path of squeezing businesses with his high interest-rate policies.

I honestly believe that we need to make a radical change and do whatever we can to get the businesses going. I am referring to all businesses and not just manufacturers, as employment, productivity, import substitution and exports are the only ways to grow an economy. Please note what most countries have done, and that is lower rates to stimulate growth.

Putting your money on high interest rates in the bank only allows those with money to earn more money. The poor majority of Jamaicans are unable to do so and just want a job to be able to look after their families.

Please note that Jamaica can no longer continue on a path of no growth and if you have any ideas that can assist, then I would be more than happy to take to the Government, once feasible.

I am, etc.,

OMAR AZAN

Kingston