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Productivity growth has been slowing down globally in recent years
in light of heightened economic crises and geopolitical tensions.
This book puts the issue of low productivity growth in small
countries under a microscope, exploring Jamaica's productivity
challenges in its quest to achieve its United Nation Sustainable
Developmental Goals. Overall, this book provides useful examples of
handicaps that small countries face and proposes different
approaches in finding plausible solutions to their overarching
productivity challenges. This study provides useful lessons to
other countries, as well, which would like to transition from
developing to developed and to better the lives of their citizens.
This book analyses Jamaica's ability to satisfy its short and long
run foreign currency obligations in light of recurrent balance of
payment support from international lending agencies. Jamaica is one
of the top five indebted nations in the world, and despite entering
13 successive arrangements with the International Monetary Fund
over the past 40 years, its depreciating currency continues to
drive up debt servicing requirements. The island nation's
longstanding relationship with multilateral lending agencies like
the IMF serves as a case study for other developing countries that
are unable to generate sufficient intrinsic net international
reserves and, consequently, suffer from incredibly low GDP growth
per annum. The book closes with policy recommendations to bolster
the Jamaican economy into solvency so that it can create a
sustainable foreign debt repayment plan, and suggests strategies
for supporting local economic objectives within global geopolitical
constraints.
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