ABSTRACT
This chapter offers a few comments regarding economic conditions in Jamaica prior to International Monetary Fund (IMF) involvement. It considers the major events connected with Jamaica's borrowing from the Fund. The chapter analyzes the roles of various major and minor actors in the negotiation process as well as the outcomes of their behavior. It discusses how Jamaica's experiences reflect on the several models. Jamaica's political system was also one of the most democratic in the Western Hemisphere, with a long tradition of competitive elections and peaceful transfer of power. The IMF permitted the creation of a two-tiered exchange rate in order to bring about at least a partial devaluation of the Jamaican dollar. The primary actors in the case of Jamaica were the Manley administration and the IMF. At the level of implementation, the IMF showed varying degrees of flexibility.
