october 19

october 19 - The process for Jamaicans to get through...

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10/19/06 The process for Jamaicans to get through customs is much more exhaustive than that of the Americans. Devaluations imposed by the IMF have led to weakness of Jamaican currency 1944-The War is coming to an end. IMF formed to create a bank from which short-term loans can be withdrawn for trade between winning countries. 1962-Jamaican independence. When Jamaica became free, they were soon in every kind of financial problem because they didn’t have the economic strength to make it on their own. 1973-World “convulsion” caused by increase in world oil prices. Jamaica went to private banking system to get private loans to pay overseas debts. Typically, in order to get a loan, a country needs to cut back spending in some way. IMF imposed upon Jamaica tremendous spending restrictions, forcing them to cut many programs in such areas as health and education. The first thing the IMF wanted Jamaica to do was devalue their dollar.
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This note was uploaded on 04/16/2009 for the course GEOG 1101 taught by Professor Connor during the Fall '08 term at UGA.

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october 19 - The process for Jamaicans to get through...

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