Edward Seaga makes a compelling case for a pegged rate, that is, “a fixed currency value accepted or legislated as non-variable. Pegged rates can last decades without change, as has been the case in the Organization of Eastern Caribbean States.”  But would it be wise to make the move now in the unsettled circumstances surrounding the Jamaica Debt Exchange programme? more...

Colin Bullock argues that the “reintroduction of a peg would have to weigh the issue of capital controls” and could also mean “neutering the significant technical expertise in money and foreign exchange policy that has been developed at the Bank of Jamaica”. Find out why he would not abandon a system that has survived longer than any of the several others tried since independence. more...