Jamaics's Economic Downfall

“The imposition of structural adjustment programs in the Third World since the 1970s has been characterized as a war against the poor, a process of [neo] recolonization” (Turner, 1994: 37). This statement is particularly applicable to the country of Jamaica. The island has been susceptible to a variety of neocolonial acts including the presence of multinational corporations, structural adjustment programs, and loan organizations that have sucked Jamaica’s economy dry. This neocolonial presence has devastated the population in more ways than one. It is apparent that neocolonialism has had and continues to have a large impact on society as a whole in Jamaica. This

One of the first changes made by the IMF after instituting Jamaica a loan was the devaluation of the Jamaica currency. Even though the devaluation of the currency made exports from Jamaica cheaper to purchase, Jamaica is a country that relies on imports to survive, and devaluation makes imports extremely expensive. This then decreased the amount that Jamaica could import, and with already decreased government spending, Jamaica could not sustain itself with enough goods.

In an article written in the Jamaica Observer, Haughton (2017) describes the state of Jamaica as an under-developed child who continues to depend on its parents for approval. “For many years colonialism milked Jamaica and other Caribbean countries by imposing a false identity on our people, diminishing resources that affected growth and development (Haughton, 2017).

“Life and Debt” is a documentary produced and directed by Stephanie Black, which describes the impact of international institutions, such as the International Monetary Fund (IMF) and the World Bank, in small developing countries. (About Life and Debt) The documentary focuses mainly in the repercussions of financial policies imposed in Jamaica and its effects on its citizens. Throughout the film, Black also emphasizes the different industries affected by these international institutions. From the agricultural activity to the construction of a new Free Trade Zone in Kingston, developing countries such as Jamaica did not obtain the aid they were seeking for. Instead, most of these organizations refused to help the country due to its declining economy.

The Jamaican economy in 1970 was 800 million dollars in debt and by the time of the year 2000 the debt had reached an alarming 7 billion dollars. In order to service its accumulated debts Jamaica set up Exporting Processing Zones or EPZ’s. The free zones created lots of employment to jump-start the economy. The free zones themselves were separate entities to Jamaica, similar to the US-owned cemetery for the WW2 soldiers in Normandy. In this way, the supplies needed for manufacturing never really enter Jamaica, thus allowing for cheap imports. The factories had their downsides though. Workers were only paid in Jamaican dollars about 30USD per week while some were paid that for two weeks. Every two weeks, money was taken out as taxes which angered the Jamaicans

Throughout the essay Jamaica Kincaid expresses her idea of the severe power imbalances that existed in Antigua. This is viewed through a Marxist lens, which enables to analyze how the power is distributed and imposed. Kincaid evidently reveals that the government is fully in control and

The period of slavery in Jamaica have left a number of legacies that the current Jamaican people continues to embrace. Some of these legacies are positive ones while some

One of the most challenging things that Jamaicans have had to cope with is the physical and psychological isolation. On the island, the country is so small that it is easy to visit extended family members on a daily basis. Here, in the United States, however,

     The people of Jamaica have no influence on the daily economic decisions that affect their lives. For almost 25 years, Jamaica has been able to keep a very small percentage of its national revenue because of agencies like the World Bank and IMF. While other big name countries continue to grow economically, these

Ever wondered why Jamaica is in debt and why the United states isn’t, all of this had to have happen by something. The English used the slaves to benefit themselves by growing cash crops to sell to England, over 300 years of England’s control Jamaica gained its independence on August 6, 1962. Jamaica didn’t have enough time to build a strong economy after independence, so they took a loan from the IMF (International monetary fund) which had certain restrictions on what to do with the money, this was their downfall. The IMF demanded Jamaica to spend to a limited amount on education and health, devalue Jamaica’s currency, this doesn’t solve anything because it hurts the future of

Eaton (2002) stated that the signs were there as there was no doubt that wages were poor, employment irregular and there were crop failures. Thus the birth of the Jamaica labour movement began. Kirkaldy (1998) purports that this dates back to the year 1938 following a series of strikes in Jamaica. Nonetheless Kirkaldy contends that, “ there were, however attempts at a combination for many years prior to that date, but prior to 1919 when the Trade Union Act was passed, unions operated without the protection of the law.

     The land of Jamaica is very small. The total land mass area of the island is 4,243 square miles. Stretching 146 miles from east to west and at its furthest points north to south, approximately 51 miles (Encyclopedia Americana, 2001, P 670). Within this area, the land is

Situated in the context of Jamaica’s colonial past, Black provides a meaningful foundation for the discourse of debt and development in Jamaica. In so doing, she asks her audience—most likely intended for young and well-off U.S. citizens—to think critically about tourism in developing countries and the effects of U.S. international involvement. Throughout this expose of exploitative U.S. involvement, Black highlights the resilience of those suffering from IMF reforms. The film uses juxtaposition to blames the IMF for the deteriorating situation in Jamaica. In one scene, Black shows the U.S. hypocrisy of forcing Jamaican to lower tariffs while flooding their market with highly subsidized powdered milk. Subsequently, Black cuts to an interview with a representative from the IMF who continues to justice these policies despite realities on the ground. Moreover, the film questions the Western assumption that its current economic model is the best. To be sure, the U.S. has not always pursued a global integrated economic platform. For many years, the U.S. was highly isolationist as it industrialized and built up national

“ The structures of governance now in place represent the old order. In essence, the foundation of society, the people, has been transformed at much rapid rate than the institutional and structural features of the society. The new more informed Jamaican, is more demanding than ever to be involved in a meaningful way in shaping his or her destiny”. Prime Minister P.J. Patterson

It has influenced the rise in crime as more persons become squeezed into smaller living areas, which are densely populated. The crime rate escalates as the persons in the densely populated areas desire to climb out of these areas and obtain the lifestyles of the tourists who look prosperous and the “other” Bahamians who are enjoying the “good life”. In order to obtain the “American Dream” as seen by the tourists who come to the Bahamas, some factions of the Bahamian youth turn to selling drugs, prostitution, gangs (which give them the perception of power) and ultimately taking drugs. The desire to become wealthy quickly then causes a proliferation of the drug culture. The drug culture negatively affects other factions of the Bahamian populace as it causes an increase in burglaries, rapes, home invasions, murder etc.