Dr. Maziki Thame is a Senior Lecturer in the Department of Government, UWI, Mona. On August 26, it was announced that Jamaica’s Finance Minister, Dr.
Nigel Clarke was being appointed as Deputy Managing Director at the International Monetary Fund (IMF) effective October 31 this year. The news was met with an outpouring of kudos to Clarke. In a press release, Prime Minister Andrew Holness argued: “It is to the benefit of Jamaica and the Caribbean region for one of our nationals to serve in such a consequential global position.
This development is, therefore, a tremendous net gain for Jamaica and the Caribbean. Furthermore, this elevation of Minister Clarke is demonstrative of the depth, strength and capacity of my administration.” It seems Jamaica’s Prime Minister does not understand the workings of the international system.
For those who know better, it is clear that Clarke’s success will have no bearing on the status of Caribbean countries in the world. Indeed, Clarke has merely gone deeper into the capitalist order that exploits and impoverishes countries like those in the region. And he would not have the power to change that order, even if he had the will which by all indications, he does not.
Clarke will be one of four Deputy Managing Directors, who also mainly come from the Global South and have not yet worked to the benefit of poor countries. He can also never gain the top job, reserved for a European, the point most indicative of where the Fund’s interests .