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Derick Latibeaudiere is yet to make a decision about his future, following his firing last week as governor of Jamaica's central bank.
Speaking with The Gleaner yesterday, he repeated his wish for an early conclusion of talks with the International Monetary Fund (IMF) for a US$billion loan.
"I haven't thought about it," the ex-Bank of Jamaica (BOJ) boss said, when asked about his next move.
Until his dismissal, ostensibly in a dispute over his employment contract, Latibeaudiere was leading Jamaica's negotiations with the IMF, a role that has since been assumed by Financial Secretary Dr Wesley Hughes.
Early conclusion
Yesterday, Latibeaudiere told The Gleaner that "Given where Jamaica is, I am really hoping for that (an early conclusion of the negotiations)."
While the Government has disputed rating agency Standard & Poor's downgrade of Jamaica, Latibeaudiere has declined to make any pronouncements on the matter.
"I have not been able to read between the lines of what they (S&P) had to say," he told The Gleaner. "I don't think they have any reason to double speak. They usually say what they mean."
When S&P previously downgraded Jam
BOJ boss quits
DERICK Latibeaudiere yesterday resigned as governor of the central bank with immediate effect in what was said to be a mutual agreement between him and Finance Minister Audley Shaw.
However, highly placed sources in the Government said the resignation was an inevitable outcome, given the administration&#;s frustration with the governor&#;s position on a number of critical policy issues.
Latibeaudiere&#;s departure from the Bank of Jamaica, after more than a decade at the helm, was announced in a three-paragraph news release in which the finance ministry also said that Brian Wynter, the former executive director of the Financial Services Commission and a former deputy governor of the BOJ, will replace Latibeaudiere on December 1.
The ministry also said that in the interim, Audrey Anderson, senior Deputy Governor of the BOJ, will be in charge of the bank until November
Attempts to reach Latibeaudiere for a comment last night were unsuccessful. However, yesterday evening he told Nationwide Radio boss Cliff Hughes that he was not pushed out of the job.
&#;We came to a mutual agreement. Just leave it at that nuh,&#; Latibeaudiere said in an interview in wh
Ex-BOJ governor backs timeout for bank hires
Former Bank of Jamaica (BOJ) Governor Derick Latibeaudiere has supported a proposal from Jamaica’s anti-corruption watchdog for senior central bank personnel who are involved in regulations, examinations, or inspections to be restricted from compensated employment with private depository institutions for a one-year period after leaving government.
The recommendation is contained in the third annual report of the Integrity Commission, which was tabled in Parliament on Tuesday.
In fact, Latibeaudiere said that a senior BOJ official who had regulatory responsibility might have knowledge of things that would place that individual in a position to make decisions that could, inevitably, be profitable to him.
“In other words, if you were working in the bank and you had knowledge of institutions, or anything like that, I would think that common sense would tell you that you need to make sure that those people can’t, in any way, profit from that kind of knowledge that you have,” said Latibeaudiere in a brief response on Wednesday.
Current BOJ Governor Richard Byles told The Gleaner that the central bank did not
Keith Collister, Business Writer
Derick Latibeaudiere Governor of the Bank of Jamaica. - Rudolph Brown/Chief Photographer
Bank of Jamaica (BoJ) Governor, Derek Lati-beaudiere, addressing the issue of the Jamaica Labour Party's (JLP) proposal for an independent central bank, argued that this call was nothing new. He said he has been at his current job for 12 years and has had to address the issue every year.
He explained tha "all central banks want to be autonomous" he had "never suffered from the problem of the Government dictating to this central bank." He noted that, apparently, like Jamaica, in his view, some "Central Banks overseas were not legislatively, but practically autonomous".
Addressing the current financial situation, he noted that the Government was keeping the fiscal situation tight and that any current financial pressures were coming from the international community and were "not local problems".
In response to a question as to whether the sub-prime mortgage debt crisis (and potential associated credit crunch) currently occurring in the U.S. would affect Jamaica, the governor noted that while the fall in prices of Jamaica's international bonds wa
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