How did Jamaica halve its debt in 10 years?
Brookings Podcast on Economic Activity
Jamaica's Remarkable Debt Reduction
Exploring Jamaica's history of debt, the chapter discusses its journey from high debt levels in the 1970s to achieving a significant reduction in debt to GDP ratio within five years, despite minimal economic growth. It highlights the country's strategy of running budget surpluses, political stability, and strong fiscal discipline as key factors in this achievement. The narrative emphasizes the role of political polarization, fiscal efforts, social partnerships, and involvement of various sectors in Jamaica's successful debt reduction strategy.
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