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Caribbean & Central America - June 2012 (ISSN 1741-4458)
JAMAICA: Debt: the unsustainable burden
The US-based economic-policy think tank, the Centre for Economic and Policy Research (CEPR) has reiterated its criticism of the International Monetary Fund (IMF)’s policies for Jamaica. In May 2011, the Washington-based CEPR was critical of the IMF’s Jamaica programme on the grounds that it was too “pro-cyclical”. The report said that the IMF’s demands for tax increases, expenditure cuts, and the containment of the public-sector wage bill “threatens Jamaica’s prospects for recovery and risks exacerbating its public debt problems”. The report concluded: “In the absence of plans to tackle Jamaica’s debt problems with a broader concern for the growth and employment needs of the economy, Jamaica’s economy will continue to stagnate.” A year on from that report, the CEPR issued a new report – “Update on the Jamaican Economy” – in which it repeats its criticisms in even more stringent terms.
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- GRENADA: Damaged prime minister survives no confidence motion
- JAMAICA: Debt: the unsustainable burden
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- GUATEMALA: Civil society back on the alert
- EL SALVADOR: Gloves off as Funes goes before congress
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- ECONOMIC OVERVIEW: NICARAGUA
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