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2. Jamaica: Macroeconomic Policy, Debt and the IMF
- Collection:
- Black Caribbean Literature (BCL)
- Contributers:
- Johnston,Jake (Author) and Montecino,Juan Antonio (Author)
- Format:
- Pamphlet
- Publication Date:
- May 2011
- Published:
- Center for Economic and Policy Research
- Location:
- African American Research Center, Library, University of Illinois at Urbana-Champaign
- Journal Title:
- Center for Economic and Policy Research
- Notes:
- 24 pp., This paper looks at Jamaica's recent history of indebtedness, its experience during the global economic downturn, and examines its current agreement with the International Monetary Fund (IMF). It finds that Jamaica's economic and social progress has suffered considerably from the burden of an unsustainable debt; and that even after the debt restructuring of 2010, this burden remains unsustainable and very damaging. Pro-cyclical macroeconomic policies, implemented under the auspices of the IMF, have also damaged Jamaica's recent and current economic prospects.