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Life and Debt: Guided Viewing Questions
According to Michael Manley, former Prime Minister of Jamaica, what was the purpose of establishing the IMF and World Bank?
Why did Manley eventually go to the IMF for money?
What were the terms of the loan he was able to get from the IMF?
Why did the IMF insist on devaluation of Jamaican currency and what has been the impact on the Jamaican economy and the people of Jamaica?
What has happened to the farmers in Jamaica? What do they see as the cause of their troubles?
Why, according to Mr. Fischer (Deputy Director of the IMF), should Jamaica reduce/eliminate tariffs and open its markets to world trade?
Why did the IMF insist on high interest rates in Jamaica (over 21-40%)? What was the impact of this policy on farmers in Jamaica?
What happened to the dairy industry in Jamaica?
What was the Lome Agreement? Why did the U.S. protest this agreement to the WTO?
What happened to the banana industry in Jamaica?
What is the “free zone?”
Why did factories in the free zone close?