December 9, 2019 |
Six years ago Jamaica was struggling to pay its bills. Its economy had stalled, inflation approached 10% and the unemployment rate topped 15%. Just as worrisome, it had the distinction of being among the world’s five most indebted countries, owing $15.2 billion, equivalent to roughly 150% of its GDP.
Today the Caribbean nation bears little resemblance to its former self. The economy is growing, inflation has been tamed and unemployment has sunk to a 10-year low. And after some harsh belt-tightening, Jamaica’s debt load is shrinking with the government posting a budget surplus for the past six years. As if in recognition of this reversal of fortune, the Jamaica Stock Exchange has enjoyed a su
Inflation is under control, unemployment is down and the country’s
heavy debt load is shrinking. Despite huge strides in fixing the
economy, the country still suffers from
slow growth and chronic crime