Word: jamaican
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...order of business would be to restore economic growth. And while he insisted that there would be no break in relations with Havana, he left little doubt that he planned to alter Jamaica's foreign policy. He asked the Cuban Ambassador, who had been accused of meddling in Jamaican affairs, to leave the island forthwith...
...some places, the IMF stands for something other than money. In Jamaican dialect--a strange concoction of English, French and native African languages--IMF last week stood for the question "Is Manley Fault...
Manley had explained to his fervent followers that Jamaican problems resulted from a devastating triple play: Western imperialism and its effect on the Jamaican capital, a skyrocketing oil import bill and blundering representatives in the International Monetary Fund (IMF). The IMF received particular wrath from Manley, who blamed the Fund for forcing a Jamaican currency devaluation which he claimed had disabled the Jamaican economy. Symbols of last week's election, graffiti scrawled on the walls of Kingston and throughout the country, denounced the IMF for trying to prompt the downfall...
FAULT, OF COURSE, is in the eye of the beholder; but ominous changes in the state of the Jamaican economy since Manley tried to "challenge the power of the Western economic structure" with his form of democratic socialism lend credence to the writing on the walls. The average Jamaican is now 25-per-cent worse off than he was in 1973--and this is an economy which had managed to maintain a high annual growth rate of nearly five per cent throughout the 1960s. Under Manley's system of "land reform," production of agricultural goods declined dramatically, and farm exports...
...outflow of capital, a situation which both foreign and domestic sources created. Elected on a platform decrying the evils of foreign capital, Manley was practically inviting foreign capital to leave. And his close relationship with the staunchly anticapitalist Cuba did not encourage foreign investors. Manley has so frightened Jamaican businessmen that they, too, have transferred their holdings abroad. For Manley to blam the outflow of capital which he instigated for his country's economic woes is simply a fraud...