Word: manley
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...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...
...Americans, then, it came as something of a surprise when Manley's party went down to an overwhelming defeat at the polls last week, and the prime minister himself was barely able to hold on to his parliamentary seat. Students and professors at Harvard expressed their dismay at Manley's fall. "It's going to set Jamaica back 10 years," Selwyn Cudjoe, assistant professor of Afro-American Studies, said. And Karen Alphonse '83, a Jamaican, concurred. "Manley has raised Jamaica's political consciousness. You cannot get up now and tell Jamaicans they cannot be satisfied," she said...
...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...
...more devastating than any of these factors was Manley's treatment of Jamaica's bauxite industry. In 1978, the industry still provided more than 70 per cent of all export earnings; in 1974, Jamaica produced 18 per cent of the world's bauxite; by 1976, its share had slipped to 12 per cent. Part of the blame for the decline falls on strikes and an explosion in an aluminum plant, but the heart of the problem lies in Manley's effort to increase the percentage of government revenue from bauxite exports. In so doing, the prime minister raised the price...