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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Exchange rate acts as shock absorber and economic booster In spite of 2.5 % expected growth, pessimism over LAC’s future unwarranted Small countries with less flexible currencies need to find fiscal... Show More + buffersWASHINGTON, OCTOBER 9, 2013 – For the first time, currencies in Latin America and the Caribbean (LAC) are absorbing some of the shocks derived from a less friendly global environment, according to the latest report by the World Bank Chief Economist Office for Latin America and the Caribbean, Latin America’s Deceleration and the Exchange Rate Buffer. Depreciated currencies not only lower the cost of exports but also raise the cost of imports, making the export and local industries more competitive and boosting job creation. LAC, together with other emerging markets, is entering a new phase of lower growth dynamics, as the tailwinds that blew so favorably in its direction in the recent past continue to recede. Growth rates in middle-income countries in Eastern Europe, East A Show Less -