THIS DAY IN OUR PAST

The following events took place on June 27 in the years identified:

1984: Negotiations for the rescheduling of Jamaica’s external debt are to take place today, according to unconfirmed reports reaching The Gleaner. Horace Barber, Governor of the Bank of Jamaica, is “attending meeting out of the country,” a source at the Bank of Jamaica says. Meanwhile, the Wall

Street Journal carries the following story in which the IMF confirms the statement issued last weekend from Jamaica House: “The International Monetary Fund says it approved 143 million (SDRS) approximately US$150 million) in loans to Jamaica, including about 76 million that can be drawn immediately to help offset a decline in the country’s export earnings. The other 67 million will be available in installments over the next eleven months to support the Caribbean nation’s economic adjustment efforts.”

1985 Private Sector Organisation of Jamaica (PSOJ) President Sam Mahfood discloses that the PSOJ is working on the setting up of a technology development company to assist in the transfer of technology to Jamaica with development capital attached. The disclosure is made as he addresses a Jamaica Exporters’ Association forum at the Wyndham Hotel, New Kingston. He says the PSOJ has decided on such a company because it is fully conscious of the fact that its responsibility is not confined simply to take advantage of opportunities, but also to assist in creating opportunities.

1986: K-Mart chain store of the United States finalises an agreement to purchase US$10.3-million worth of garment from East Ocean Textiles, a Kingston Free Zone company. Hugh Shearer, deputy prime minister and minister of foreign affairs and foreign trade, announces the deal after meeting with K-Mart president and Chief Executive K. Antonini and East Ocean’s managing Director, Jimmy Jim.