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Country Report Jamaica Product Image

Country Report Jamaica

  • ID: 2105438
  • April 2015
  • Region: Jamaica
  • 24 Pages
  • The Economist Intelligence Unit

The US president, Barack Obama, visited Jamaica on April 8th-9th, en route to the Summit of the Americas in Panama. The visit was the first by a US president to the country in 30 years. During his stay, Mr Obama praised Jamaica's performance under its IMF programme, and committed US$90m to developing entrepreneur training and renewable-energy projects.

Mr Obama met with Jamaica's prime minister, Portia Simpson-Miller, and with leaders from the Caribbean Community (Caricom, a regional trade bloc). He also hosted a town hall meeting with students from the University of the West Indies (UWI) in the capital, Kingston. The visit cemented US-Jamaican ties, and lent support to the Jamaican government as it seeks to adjust its borrowing arrangement with the IMF and spur economic growth. It also potentially provided a boost to the ruling People's National Party (PNP), whose popularity has declined in recent opinion polls.

During his meeting at the UWI, Mr Obama praised Jamaica's commitment to its IMF programme, in place since May 2013, and highlighted the necessity of austerity measures for the country to recover from longstanding economic problems and for the government to reduce his large debt burden. However, the US president said that adjustments should be made to ensure a higher rate of economic growth. Years of poor growth performance-preliminary government estimates indicate that GDP grew by just 0.4% in 2014, barely above the 0.1% of 2013-have resulted in the economy being the same size now as it was in 2008.

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Country Report Jamaica

Obama visit cements ties with Jamaica and Caribbean
Praise for Jamaica's IMF performance
US reinforces regional influence
Jamaica in the spotlight

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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