From mi sistren..Willi yu can translate?

[Exile]

To those of you who have not taken the time to learn Swedish, either do so or go to Google translate. Jamaica made the Swedish business paper today.

Trubbel i paradiset

Uppdaterad 2013-05-03 11:09. Publicerad 2013-05-03 10:13
Foto: Jurek Holzer/Scanpix
Västindien har hamnat i kläm mellan jättarna USA:s och EU:s ekonomiska kriser. Jamaicas nya krislån vittnar om hela regionens stora behov av ekonomiska räddningsinsatser. En haltande turistnäring och varuexport samt allt värre orkankatastrofer förvärrar paradisöarnas skuldkriser.

Internationella valutafonden IMF slog redan i mars larm om de små karibiska ekonomiernas fortsatta utförsbacke. Nya skuldavskrivningar är ”extremt sannolikt” och ett särskilt klimatbistånd för att mildra allt värre orkanskador behövs för att vända regionens svåra stagnation, enligt valutafonden.

Annons:
På onsdagen gav IMF grönt ljus åt ett nytt stort räddningspaket till Jamaica. Fonden står för hälften av det krislån på motsvarande 13 miljarder kronor, eller dryga 13 procent av landets BNP, som ska få landet på fötter. Övriga finansiärer är Världsbanken och Inter-amerikanska utvecklingsbanken.

Jamaica är sedan länge förknippat med grava skuldproblem, nästan lika mycket som med reggae, paradisstränder och paraplydrinkar.
”Under merparten av de senaste tre decennierna har Jamaica lidit av väldigt låg tillväxt, hög statsskuld och allvarliga sociala utmaningar”, konstaterar IMF i ett pressmeddelande.
Motkravet är att Jamaica håller fast vid sin utlovade fyraårsplan att börja beta av statsskulden genom ny omfattande sparpolitik kombinerad med vässad konkurrenskraft och sociala program för de allra fattigaste.
Jamaicas BNP bedöms ha krympt med 0,2 procent det senaste året. Börsen i Kingston hör till en av världens sämsta hittills i år, med en utveckling på omkring minus 10 procent.
Det sura tillväxtläget väntas förvärra landets redan usla sits med bland annat en statsskuld på 145 procent av BNP, ett skriande bytesbalandunderskott på 12 procent, en inflation på över 7 procent och en arbetslöshet på närmare 15 procent.
Västindiens marknadsandelar för såväl turism som varuexport har stadigt stagnerat ända sedan 1980-talet. Andelen av de globala turistutgifterna har mer än halverats till under en procent på knappt tre decennier.
Det visar en IMF-rapport från i februari i år kring Karibiens 14 engelskspråkiga länder plus den forna nederländska kolonin Surinam.
Regionens ekonomier har i snitt också blivit allt fattigare under samma period, mätt i BNP per capita.
Till de värst skuldtyngda länderna hör pyttestaterna St Kitts and Nevis och Grenada, med vardera omkring 100.000 invånare. Kombinationen enorma bytesbalansunderskott med statsskulder på 145 respektive 105 procent av BNP gör dem särskilt utsatta.
Vid sidan av hårdare konkurrens från såväl Latinamerika som Asien tyngs Västindien av ett extremt utsatt läge för naturkatastrofer. Orkaner och översvämningar gör att sex av regionens öriken platsar i topp tio över världens mest katastrofdrabbade länder och övriga i topp 50.
Orkanernas ekonomiska konsekvenser blir dessutom allt värre, enligt forskning som IMF tar upp i sin rapport. Regionens årliga orkankostnader steg till 1,3 procent av BNP under 2000-talet, från 0,9 procent på 1990-talet.
De år som orkanerna slår till mot en enskild västindisk ekonomi kapas enligt rapporten den redan skrala BNP-tillväxten typiskt sett med 1 procentenhet samtidigt som statsskulden i relation till BNP stiger med 5 procentenheter.

Nils Åkesson nils.akesson@di.se
T

[Willi]

LoL

Yuh ah mek the same American mistake.

SWEDEN nuh have nutten fi do with SWITZERLAND...

[Willi]

From Google:

Trouble in paradise

Updated 2013-05-03 11:09. Published 2013-05-03 10:13
*Photo: Jurek Holzer / Scanpix
Caribbean are caught between giants U.S. and European economic crises. Jamaica's new emergency loan bears witness to the region's major need of financial rescue. A limping tourism and exports of goods and worsening hurricane disasters exacerbate paradise islands debt crisis.

IMF hit back in March alarms about the small Caribbean economies continued downhill. New debt relief is "extremely likely" and a special climate aid to alleviate the worsening hurricane damage needed to turn the region's severe stagnation, according to the IMF.

Ad:
On Wednesday, the IMF gave the green light to a huge new bailout package to Jamaica. The Fund accounts for half of the emergency loan correspondingly 13 billion, or just over 13 percent of the country's GDP, that will get the country back on its feet. Other donors are the World Bank and Inter-American Development Bank.

Jamaica has long been associated with serious debt problems, almost as much as with reggae, paradise beaches and umbrella drinks.
"For most of the past three decades, Jamaica has suffered from very low growth, high debt and severe social challenges," says the IMF in a statement.
Obligation being that Jamaica maintains its promised four-year plan to begin beta of debt through new comprehensive savings policy combined with sharpened competitiveness and social programs for the poorest.
Jamaica's GDP is estimated to have shrunk by 0.2 percent in the past year. Exchange in Kingston belong to one of the world's worst so far this year, with a development of approximately minus 10 percent.
The acid growth mode are expected to worsen the country's already poor seat including a national debt of 145 percent of GDP, a crying bytesbalandunderskott of 12 percent, an inflation rate of over 7 percent and an unemployment rate of nearly 15 percent.
Caribbean market for both tourism exports have steadily stagnated since the 1980s. The proportion of global tourism expenditure has more than halved to less than one percent of nearly three decades.
It shows an IMF report in February this year on the Caribbean's 14 English-speaking countries, plus the former Dutch colony of Suriname.
The region's economies have on average also become poorer during the same period, as measured by GDP per capita.
For the worst-indebted countries are teeny States St. Kitts and Nevis and Grenada, each with about 100,000 inhabitants. The combination of large current account deficits with public debt at 145 and 105 percent of GDP, making them particularly vulnerable.
In addition to competition from both Latin America and Asia Caribbean burdened by an extremely vulnerable position for natural disasters. Hurricanes and floods makes six island states of the region's airports in the top ten of the world's most disaster-prone countries and others in the top 50.
Orka The economic impact is also becoming increasingly worse, according to research by the IMF raises in its report. The region's annual hurricane costs rose to 1.3 percent of GDP in the 2000s, from 0.9 percent in the 1990s.
The years that hurricanes strike in a single Caribbean economy reportedly cut the already meager GDP growth typically by 1 percentage point, while the national debt in relation to GDP rises by 5 percentage points.

*Nils Åkesson nils.akesson @ di.se

[Willi]

JamRock, needs a 2 prong approach.

We need to rekindle hope and ambition...we need to get the inhabitants to see that the world is moving ahead of us and our acceptance of mediocrity as being great is killing us.

We also need to establish multiple strategic growth partnerships with key compatible countries, instead of the vampiric relationship with Caricom.

I have been hinting in the last couple days, but no one seems to be picking up. We have to deal with the giants (US, EU and China), but we also need to cultivate partnerships with the likes of UAE/Australia/Panama/Costa Rica/Kuwait/Qatar and Singapore. Some of these have regional ties, while other have the commonwealth ties. UAE tried to buy Calif Long Beach terminals years ago and were rebuffed. What if we twin up Dubai with Kingston? What better - more manageable- partner is there? Di man dem have more money than viable projects and short term profitability is NOT a major consideration. Abu Dhabi is the key player. Where is our Embassy there? When last our PM tek up the phone to initiate dialogue with Sheik Kalifa (who is known to be grounded with little airs and graces). We have at least 40 Jamaicans based in A-Dhabi and tons more perhaps in Dubai. The Emirati guide at the Sheik Zayed grand Mosque tour told me he had been to Kingston and loved it!

Unno see why mi frustrated??? We just a watch the frog bwile while opportunity is right in front of us. Mi nah talk in parables like our good bredrin Jawge. Mi go unno strait!

Portia is snatching defeat from the jaws of victory!

[Peter R]

Exile: It says... " Jamaica is screwed!"

[Exile]

Mi no mek no mistake...thought you were a man of many parts...and cultures...yu buss mi bet...

[Mosiah]

Our pilots, I understand, fly their airlines. And one former Air Jamaica pilot now flies for a Saudi Prince.

[Willi]

40 outta 1600 for one airline.

My buddy is a Captain... AMDG.

[Willi]

Many dont mean ALL!

Plus yuh nuh see google to di rescayouuuuu!