Jamaica: Macroeconomic Policy, Debt and the IMF
AbstractThis 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.
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Bibliographic InfoPaper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2011-11.
Length: 12 pages Classification- JEL: E, EO, E6, E61, E62, E65, F, F1, F14, F5, I, O, O4, O5, O54,
Date of creation: May 2011
Date of revision:
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jamaica; imf; debt; JDX;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-30 (All new papers)
- NEP-MAC-2011-05-30 (Macroeconomics)
- NEP-PKE-2011-05-30 (Post Keynesian Economics)
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- Juan Montecino & Jake Johnson, 2012. "Update on the Jamaican Economy," CEPR Reports and Issue Briefs 2012-15, Center for Economic and Policy Research (CEPR).
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