Jamaica's Foreign Aid Problems
By mxlfy, Updated
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Jamaica applied for a loan from the IMF when Jamaica was in an economic downturn. The IMF forced us to eliminate our tariffs, reduce our limits on imports, and pay high interest rates on the loan.
People of all jobs face competition from the United States, and Jamaicans no longer have a protected market. The economy is controlled by foreign interests and the debt has decreased production, increasing the number of Jamaicans in poverty.
The dairy industry is suffering from US imports. Jamaicans can only afford the cheaper US powdered milk, and this has caused the dairy industry to collapse due to lack of demand.
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