The debt problem and self-made vulnerabilities : the case of Jamaica

Abstract

This chapter stresses the point that in Jamaica vulnerabilities in the face of external shocks have been aggravated by shortcomings in macroeconomic management, leading to high national debt. This situation has tended to distract from the national focus on social development as economic growth has stagnated over the past decade. In these circumstances, any lapses in governance and malfeasance in public administration is likely to exacerbate the country's problems. The chapter contends that public policy should be at the heart of any index of economic resilience, and that any serious analysis of the situation of SIDS should consider this as crucial.