Reposted from DW.DE
The International Monetary Fund has granted Jamaica a much-needed economic lifeline. In return, the island – one of the most indebted countries in the world – needs to get a grip on its rampant public spending.
Inside a Cambio (currency exchange – the ed.), as the customers wait in line, the talk quickly turns to the exchange rate. In a country where many depend on remittances sent by family from the US, Canada and the UK the country’s sliding dollar is a worry. “It’ll soon be J$100 to $1US, watch my words,” says an old man; a woman interrupts to add that it won’t stop there, as everyone looks at the board showing the exchange rate. More…
