The IMF and Jamaica's Development Crisis
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Show notes
This episode examines how the International Monetary Fund (IMF) and World Bank's structural adjustment policies affected Jamaica’s economic and political development from the early 1970s to the present.
The IMF's loan conditions required Jamaica to implement a range of economic reforms that included trade liberalization, privatization, and deregulation of its market. This internationally regulated program resulted in Jamaica accumulating over US$4.6 billion in foreign debts.
In a 2001 documentary, Stephanie Black examined the devastating impacts of the IMF’s structural adjustment program in Jamaica, featuring a wide range of voices that included former Jamaican Prime Minister Michael Manley, and several workers in Jamaica's Free Economic Zones established by US multinational corporations to exploit cheap labor in the Caribbean.
Material for this episode was adapted from Stephanie Black's documentary, Life and Debt.
