Finance Minister Audley Shaw was warmly applauded in South Miami last Sunday when he told a large congregation of Jamaicans celebrating the nation's 47th anniversary that the country was again going to borrow from the International Monetary Fund (IMF).

Despite bad weather, approximately 700 people, mostly Jamaicans, attended the special service at the Kendall Community Church of God. Also in attendance was Sandra Grant-Griffiths, consul general for Miami.

Shaw said in his special address that consideration of seeking IMF loans "predated the global financial collapse". He pointed out, for example, that bauxite and alumina earnings had plunged 97 per cent and other distress signals had come from troubling decline in revenue from remittances and tourism.

He described the nation's current economic reality as equivalent to the impact of an 'earthquake shock measuring 8 on the Richter scale'.

Cut in transfer fees

Despite the immensity of the challenges, however, Shaw expressed optimism in the people of Jamaica to survive and thrive, because of innate "strength, capacity and potential". He said the IMF reduced interest of two per cent on loans was attractive and that IMF demand for evidence of 'good governance' was reasonable. He said, "For too long we have drifted; we need good governance."

In revealing some of the strategies for recovery that the Government intended to pursue, one in particular drew applause, having to do with a radical cut in property transfer fees, from 10.5 per cent to 5.5 per cent, and the effecting of the process within three months.

Arthur Bell did a well researched presentation on the minister, tracing his academic, professional and political careers.

Chair was Don Daly, noted media communicator, who eloquently and efficiently handled the proceedings.

A combined choir of the Kendall church and the Jamaica Nurses Association of Florida, rendered items and a group from the Second Baptist Church offered a liturgical dance.

Senior Pastor Dr Michael Curry delivered the Biblical message and his wife the Rev Carol Curry offered the benediction, following the singing of Vivian Virtue's moving hymn I Vow to Thee My Country.