September 1, 2001
Downtown Kingston: stability ahead?
Jamaica was enjoying the most stable period in its turbulent political history when a 24- hour gun battle in early July between police and residents of Tivoli Gardens, an inner-city neighborhood of Kingston, left 25 people dead. Omar Davies, Minister of Finance says, "We are working very hard to reassure [investors] that this violence was out of the ordinary."
Jamaica's economy pulled out of a five-year recession last year to grow 0.8%. Inflation dropped to 6.1% from 9.2% in 1997 and net international reserves grew by $519 million to $969.5 million at the end of 2000.
The July shootout near Kingston unnerved investors but appears not to have spilled beyond the isolated incident.