economy of jamaica

A detailed Summary of economy of jamaica


The Jamaican economy is an ailing economy and a prime example of an impoverished nation with an inadequate manufacturing infrastructure, limited nation and agricultural assets and declining foreign investments. With a decline in foreign investments Lee Bailey, President of Cruise Shipping Association who was a guest on the television program, "A Nation In Crisis" on November 2nd, 2000 at 8:30 pm live on T.V. J stated that with no water, no roads no infrastructure why would foreigners want invest? Why would they want to build a home with these conditions? Mark Kerr Jarrett, President of Montego Bay Camber of Commerce, another guest on "A Nation In Crisis" stated that law and order must be returned to the streets in order to sell the nation to foreign and local investors. He also said people must reinvest to increase the income of the nation. Jamaica has experience a deteriorating economy along with falling living standards for over 15 years as a result of a heavy debt, a devalued currency and societal malaise. The government is still repaying monies they have borrowed from international


The major stress on Jamaica's stability can be attributed to the governments inability to

leading agencies such as the international Monetary Fund (IMF) and the World Bank. Payment of 3.6 billion in foreign debt alone consumes 49% of the total budget. A series of floods and hurricanes that ravaged the country exposed the government's poor emergency relief preparation forcing authorities to solicit extensive loans from abroad. These debt burdens are an amount of money borrowed together with repayments of interest.

* Lack of self-reliance or a high dependence on others who often help out by providing loans.

* An inability to live within the means available in a country



Some common words found in the essay are:
Inflation Balance, Caribbean Islands, Nation Crisis, Bank Payment, , Crisis November, Air Jamaica, Shipping Association, nation crisis, Camber Commerce, foreign investments, * lack, low levels, ailing economy, government heavy,

Approximate Word count = 737
Approximate Pages = 3 (250 words per page double spaced)

Category: Politics

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