Jamaica's Evolving Relationship with the IMF: There and Back Again

ISBN-13: 9783030592066 / Angielski / Miękka / 2022

Christine Clarke;Carol Nelson

Opis

This book explores Jamaica’s contemporary relationship with the International Monetary Fund since 2010. It looks at Jamaica’s high debt and its inability to access financial support amidst international capital market restrictions, contextualizing harsh socio-economic realities. This book discusses Jamaica’s second return to the IMF and the resulting network of actors, governance and political and socio-economic efforts to re-engender a relationship with a “new’ IMF. Credibility was restored, demonstrated by and leading to the successful implementation of the 2013 Extended Fund Facility and subsequent exit to a Precautionary Stand-By Arrangement in 2016. Clarke and Nelson signal from their analyses lessons learned, discussing the economic prognosis for Jamaica as well as their relationship with the IMF under the shadow of the COVID pandemic.

O autorze

Christine Clarke is Lecturer in Public Policy, Development Economics, and Finance and Development at the University of the West Indies, Mona, Jamaica. She serves on the Board of the Bank of Jamaica, Jamaica’s central bank, and has worked at the Planning Institute of Jamaica in various capacities, from Economic Advisor to the Director-General to the Director of Economic Planning and Research. She earned her PhD in Public Finance from Rice University, USA.

Carol Nelson is Lecturer in the Department of Government at the University of the West Indies, Mona, Jamaica. She has over 20 years of experience in the public sector, interfacing with international financial, regional and development institutions and has represented the Government of Jamaica in varying capacities, inclusive of CARICOM, on the Board of the Caribbean Development Bank (CDB), and at the United Nations. Her first book, Social Partnership and Governance Under Crises captures the development of network relations in furthering governance of the public sector under crisis conditions in the Jamaican context. Holding a PhD in Government as well as a Professional Certificate in Strategic Climate Change Adaptation, she lectures on subject areas of International Political Economy and Organizations, Analysis of Political Opinion & Media, Governance and Climate Change.

Blurb

“‘There and Back Again’ by Nelson and Clarke

Explores the IMF Jamaica relationship, from 2010 traversing the ebb and flow within Jamaica’s socio-political economy, as well as the discourse, practice and governance of both.

Bridging the political divide, Vision 2030, engenders dimensions of ownership, multipartite partnership, and modalities of social governance within the IMF programme.

Completing the IMF lending relationship, Covid-19- as a fly in the proverbial ointment, leaves the jury out, on Jamaica going ‘Back again’”

– Lloyd George Waller, Ph.D., Waikato, New Zealand.

This book explores the IMF: Jamaica, relationship since 2010, examining Jamaica’s high debt and inability to access financial support amidst international capital market restrictions, contextualizing harsh socio-economic realities. With Jamaica’s second return to the IMF, actor networks of governance amidst political and socio-economic efforts to re-engender a relationship are foregrounded, with a “new’ IMF. Credibility is demonstrated and restored, furthering the success of the 2013 Extended Fund Facility and exit to a Precautionary Stand-By Arrangement in 2016. Clarke and Nelson reveal lessons learned, discussing Jamaica’s economic prognosis and the IMF relationship under the shadow of the COVID pandemic.

Christine Clarke is Lecturer in Public Policy, Development Economics, and Finance and Development at the University of the West Indies, Mona, Jamaica. She serves on the Board of the Bank of Jamaica, Jamaica’s central bank, and has worked at the Planning Institute of Jamaica in various capacities, from Economic Advisor to the Director-General to the Director of Economic Planning and Research. She earned her PhD in Public Finance from Rice University, USA.

Carol Nelson is Lecturer in the Department of Government at the University of the West Indies, Mona, Jamaica. Her first book, Social Partnership and Governance Under Crises captures the development of network relations in furthering governance of the public sector under crisis conditions in the Jamaican context. She holds an MSc in International Policy Analysis from Bath University, a PhD in Government as well as a Professional Certificate in Strategic Climate Change Adaptation.