After four decades of little or not growth, the Jamaican economy is expected to grow at 1-2% over the medium term. The country is confronted by serious social issues that predominantly affect youth, such as high levels of crime and violence and high unemployment.
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Most Honorable Prime Minister Portia Simpson MillerHonorable Minister of Finance Peter PhillipsPresident Warren SmithDeputy Managing Director Min ZhuDirector, Western Hemisphere Alejandro WernerMinistersDear... Show More + Partners and colleagues,It is a pleasure to be here today and be able to share some thoughts about how to move forward a sustainable growth agenda for the Caribbean.It is often forgotten that before the last global financial crisis hit, people in the Caribbean benefited from the region’s steady economic progress, improving health, education, and standard of living. The Caribbean region’s GDP per capita increased six fold in the last 3 decades and poverty has been reduced. For instance, in Jamaica, poverty rates dropped almost 20 percent in two decades.However, the global financial crisis exposed the fragility of the Caribbean region. When the global financial crisis hit in 2008, Caribbean nations experienced declining or negative growth, and as a result unemployment increased.This, Show Less -