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Jamaica's initial quota was in the amount of US$20,000, which was allocated to the IMF in February 1963. Subsequently, Jamaica has increased its quota shares in 1966 (twice),and again in 1969, 1970, 1978, 1980, 1984, 1992, 1999, and in 2016. As of today, Jamaica has an outstanding (unpaid) loan in the amount of 528.78 million SDR's. [28]
The Jamaica Accords were a set of international agreements that ratified the end of the Bretton Woods monetary system. [1] They took the form of recommendations to change the "articles of agreement" that the International Monetary Fund (IMF) was founded upon. [ 2 ]
The Jamaica Stock Exchange is the principal stock exchange of Jamaica, also known as JSE. Incorporated in 1968, JSE opened in 1969 in Kingston, Jamaica . Today, the JSE is one of the largest stock exchanges in the Caribbean by size and market capitalization.
The quota share is a specified number or percentage of the allotment as a whole quota, that is prescribed to each individual entity. For example, the United States imposes an import quota on cars from Japan. The Japanese government may see fit to impose a quota share program to determine the number of cars each Japanese car manufacturer may ...
Jamaica's banana industry was easily outpriced by American companies exporting Latin American goods. [29] Jamaica's agriculture industry is now bouncing back, growing from being 6.6% of GDP to 7.2%. [16] Sugar formed 7.1% of the exports in 1999 and Jamaica made up about 4.8% of the total production of sugar in the Caribbean.
The Minister of Finance must be an elected member of the House of Representatives. [1] The Shadow Cabinet of Jamaica is seen as the alternative to the Cabinet of Jamaica, led by the Leader of the Opposition (Jamaica), and is charged with fairly criticizing and providing alternative policy to that proposed by the Government. [2]
Historically, Jamaica has had close ties with the UK. Trade, financial, and cultural relations with the United States are now predominant. Jamaica is linked with the other countries of the English-speaking Caribbean through the Caribbean Community (CARICOM), and more broadly through the Association of Caribbean States (ACS).
Percival Noel James Patterson, ON, OCC, KC (born 10 April 1935), popularly known as P.J. Patterson, is a Jamaican former politician who served as the sixth Prime Minister of Jamaica from 1992 to 2006.