Quote Originally Posted by Irine View Post
I had a quick look at Jamaica's place in the 2018 economic freedom rankings and some of the supporting data. They are definitely being abused by the international money lending community. As a 3rd world economy it's pretty disgusting to see the interest rates they have to pay and the long term effects it has on the country and it's people. Most of the Caribbean countries seem to be in a similar strangle hold. You would think foreign investment would be interested in strengthening their investors not bringing them to their knees. OK Ok I'll stop being a Debbie downer, and this isn't the right thread either. It' just that when I see the Jamaica of old compared to the Jamaica I visit every year it makes my heart ache. Locally owned is a small ray of sunshine.
Always a dangerous thing commenting on another country's economy with only "facts" and not familiar with the history of how they got there in the first place.
No need to start an argument where there will be as many differing opinions as there are people. If being abused means having to get their fiscal house in order before anyone (including the IMF) would loan them any more money then I guess guilty as charged. Being an island with virtually no manufacturing or VAR business and an enormous trade imbalance with the US, trying to live beyond your means and borrowing more money to pay what you already owe is a recipe for disaster. The abuse is working and the price has been high but the Economy is getting better.]