GGR345H5 Lecture Notes - Chiquita Brands International, World Trade Organization
Document Summary
But since jamaica was devalued and it relied on imports. it killed their economy, and put them in. When jamiaca got its independence they didnt have the economy to make it on their own. they needed time. Turned to the private banks for support. must then cutback in some way. then u have to turn to the imf and such when u need more money. Devaluing currency makes it easier to reduce imports and increase exports debt. the debt then reduces the ability to export. Produce (like onions cabbagage, and potatoes) are imported even when they are being produced in hmaaica. because the imports are sold for cheaper. some get more money like importers and super markets, but the farmers is getting hurt. Jamaica reduced trade barriers based on imf suggestion. Jamaica exports bananas primarily to europe due to previous and historical agreements they had an agreement of price .
