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Jamaica: Macroeconomic Policy, Debt and the IMF

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  • Juan Montecino
  • Jake Johnson

Abstract

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.

Suggested Citation

  • Juan Montecino & Jake Johnson, 2011. "Jamaica: Macroeconomic Policy, Debt and the IMF," CEPR Reports and Issue Briefs 2011-11, Center for Economic and Policy Research (CEPR).
  • Handle: RePEc:epo:papers:2011-11
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    File URL: http://www.cepr.net/documents/publications/jamaica-qr-2011-04.pdf
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    Cited by:

    1. 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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    Keywords

    jamaica; imf; debt; JDX;

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