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In 1953, Bustamante became Jamaica's first chief minister (the pre-independence title for head of government). [11] Bustamante held this position until the JLP was defeated in 1955. In the 1955 Jamaican general election, the PNP won for the first time, securing 18 out of 32 seats. The JLP ended up with 14 seats, and there were no independents.
The total amount disbursed by the IMF stand-by arrangement was 10 million SDR's, which Jamaica could use if necessary, however; Jamaica did not use any money provided by the loan, and it expired in 1964. [15] In the following years, Jamaica entered into two additional stand-by arrangements, the first in 1973, and the second in 1977. [16]
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The party was organised by Sir Alexander Bustamante to counter the WIFLP led by his cousin Norman Manley. In the 1958 West Indies federal elections , the party lost, winning 19 of the 45 seats in the Federal Parliament of the West Indies Federation .
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