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Jamaica is the 4th largest island nation what is known as the Greater Antilles and [url=http://www.1855sacramento.com/moncler.php]moncler sito ufficiale[/url] the fifth largest in the historically rich Caribbean. It was once owned by the Spanish and went by the name Santiago. It came under British rule in 1655, and it was at this point that it picked up the moniker [url=http://www.achbanker.com/homes.php]www.achbanker.com/homes.php[/url] of Jamaica. Today Jamaica still has its strongest ties with England, but things have changed.
Jamaica now has self-rule, but it did not reach full independence until 1962. Prior to 1958, Jamaica had been making inroads in its attempt to gain independence from Great Britain. As of 1958, Jamaica joined the Federation of West Indies (a sub-sect of the British West Indies) and became a province. Full independence was achieved in 1962, when Jamaica left the Federation of the West Indies.
Jamaica's first decade of independence was met with strong economic growth. Over this ten year period the economy grew by about six percent per year. The main players in propagating this growth was an investment in manufacturing, production of bauxite/alumina and tourism. [url=http://www.gotprintsigns.com/abercrombiepascher/‎]abercrombie soldes[/url] Strangely, not much emphasis was placed on agriculture.
While the growth during the first ten years was seen as a [url=http://www.maximoupgrade.com/hot.php]hollister[/url] good thing for the country, it soon became apparent that not everyone was having equal access to the benefits. The urban poor were feeling very marginalized in their inability to take part in Jamaica's economic growth. A general slow-down in the World's economy in 1970 has helped to exacerbate the growing division between the poor and the rich.
The growing disparity resulted in a change of guard in the 1972 election. The PNP (People's National Party) was voted in, in an attempt to rectify the situation. Efforts were put forward to increase the standard of living for all in Jamaica. Improvements were attempted in both the medical and education systems, however by 1980, Jamaica's economy, and GNP (gross national production) had fallen to 25% below 1972's levels.
In a very unfortunate move on Jamaica's part, the country, as a result of rising local debt, foreign debt and large fiscal deficits, accepted loans from the IMF (International Monetary Fund) and the implementation of austerity measures. The loans were backed by the United States and other IMF member nations. The loans came with a very hefty interest rate of twenty-five percent per year, which only worsened the situation in Jamaica.
Jamaica's economic decline continued through the [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] 1980s. Two large factors in the decline, were the closures of the first and third largest aluminum producers - Alpart and Alcoa. Alcan, [url=http://www.1855sacramento.com/woolrich.php]woolrich outlet[/url] the number two aluminum producer, also severely curtailed production, [url=http://www.thehygienerevolution.com/barbour.php]barbour paris[/url] which added to an already dire situation. If this was not bad enough, tourism began to decline and [url=http://www.ilyav.com/isabelmarant.php]isabel marant pas cher[/url] Reynolds Jamaica Mines, Ltd. Left the Jamaican industrial sector.
Today, Jamaica's economy includes [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] tourism, mining, manufacturing, agriculture, financial and insurance services. Mining and tourism account for the majority of foreign exchange. It is estimated [url=http://www.achbanker.com/homes.php]hollister france[/url] that over half of the Jamaican economy is service industry (tourist) based. There have also been reports that both the agricultural and industrial sectors are improving. Two of Jamaica's largest exports are bauxite and aluminum. Jamaica is now the worlds fifth largest producer of bauxite after Australia, China, Brazil and Guinea.

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