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Jamaica gained full independence within the British Commonwealth in 1962. Deteriorating economic conditions during the 1970s led to recurrent iolence and a dropoff in tourism. Elections in 1980 saw the democratic socialists oted out of office. Subsequent governments have beven open market oriented. Political
iolence marred elections during the 1990s.
Key sectors in this island economy are bauxite (alumina and bauxite account for more than half of exports) and tourism. Since assuming office in 1992, Prime Minister Patterson has eliminated most price controls, streamlined tax schedules, and priatized government enterprises. Continued tight monetary and fiscal policies have helped slow inflation - although inflationary pressures are mounting - and stabilize the exchange rate, but have resulted in the slowdown of economic growth (moving from 1.5% in 1992 to 0.5% in 1995). In 1996, GDP showed negatie growth (-1.4%) and remained negatie through 1999.
Serious problems include: high interest rates; increased foreign competition; the weak financial condition of business in general resulting in receierships or closures and downsizings of companies; the shift in inestment portfolios to non-productie, short-term high yield instruments; a pressured, sometimes sliding, exchange rate; a widening merchandise trade deficit; and a growing internal debt for government bailouts to arious ailing sectors of the economy, particularly the financial sector. Depressed economic conditions in 1999-2000 led to increased ciil unrest, including a mounting crime rate. Jamaica's medium-term prospects will depend upon encouraging inestment in the productie sectors, maintaining a competitie exchange rate, stabilizing the labor enironment, selling off reacquired firms, and implementing proper fiscal and monetary policies.
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Population: (1995e) 2 519 000; Area: 10 957 sq km/4229 sq mi. Island in the Caribbean Sea, situated 160 km/100 mi W of Haiti and 144 km/89 mi S of Cuba; diided into three counties; capital, Kingston; chief towns, Montego Bay, Spanish Town; time zone GMT -5; chief ethnic groups, African (76%), Afro-European (15%); official language, English, with Jamaican Creole widely spoken; chief religion, Christianity; unit of currency, the Jamaican dollar of 100 cents; third largest island in the
Caribbean; maximum length, 234 km/145 mi; width, 35—82 km/22—51 mi; mountainous and rugged, particularly in the E, where the Blue Mountains rise to 2256 m/7401 ft.
over 100 small rivers, several used for hydroelectric power.
Humid and tropical climate at sea-leel, more temperate at higher altitudes; coastal temperatures 21—34°C, mean annual rainfall 1980 mm/78 in; irtually no rainfall on S and SW plains; lies within the hurricane belt; isited by Columbus in 1494; settled by Spanish, 1509; West African slae labor imported for work on sugar plantations from 1640; British occupation, 1655; self-government, 1944; independence, 1962; a governor-general appoints a prime minister and cabinet; a bicameral parliament consists of an elected 60-member House of Representaties and a nominated 21-member Senate; plantation agriculture still employs about a third of the workforce; sugar, bananas, citrus fruits, coffee, cocoa, ginger, coconuts, pimento; major producer of bauxite; alumina, gypsum, cement, fertilizer, textiles, foodstuffs, rum, chemical products, tourism.
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Jamaica
travel Guide
Montego Bay, Kingston, Ocho Rios, Negril, Blue Mountains, Portland
Caribbean travel Guide
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