| Economist Dennis Morrison says Jamaica should consider developing a sovereign wealth fund seeded by bauxite royalties and taxes, should the sector regain vibrancy. His suggestion comes against the background of the dissipation of US$4 billion in earnings from the Bauxite Production Levy garnered over its 40 years without any real legacy projects to show for it. The levy was created in 1974.
Morrison said bauxite remains Jamaica's best bet for the creation of a sovereign wealth fund out of which sustainable capital projects can be pursued. Panama is among the countries to have recently gone that route. It created a sovereign fund to provide the Panamanian government with an investment vehicle to manage the country's surpluses.........................................Full Article: Source
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