The rolling tides of economic woes have slammed the shores of Jamaica. The island nation’s unemployment rate has risen above 12% while its debt-to-GDP ratio is at a staggering 130% - not far behind Greece. Discussion has started with the International Monetary Fund for a significant amount of debt relief.
This will not be the first time the international financial institution has come to Jamaica’s aid for in 2010, the country received $1.27 billion. Prime Minister Portia Simpson-Miller of the People’s National Party, who stepped into office early January 2012, has yet to implement many of her social and economic policies (one of which includes finalizing negotiations for financial aid with the IMF). Other hot topics of Jamaica’s political discussion are tax and pension reform and reducing wages for government workers.

