Jamaica |
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 Jamaica National Building Society |
Jamaica National Building SocietyJamaicans will tell you that there is so much more to see and do in Jamaica than just what you see in the brochure.
Jamaica's political system is stable. However, the country's serious economic problems have exacerbated social problems and have become the subject of political debate. High unemployment--averaging 15.7% in 1999--rampant underemployment, growing debt, high interest rates, and labor unrest are the most serious economic problems. It is not to be confused with what linguists call Jamaican Creole, sometimes known as "Jamaican", though typically referred to in Jamaica as Patois or dialect; nor with the vocabulary and language approach of the Rastafarian movement. ("Patois" is a French term referring to broken or improper French but in Jamaica it refers to Jamaican Creole, which Jamaicans have traditionally seen as broken" or incorrect English). Artists like Buju Banton (Till Shiloh) experienced significant crossover success in foreign markets, while Beenie Man, Bounty Killer and others developed a sizable American following due to their frequent guesting on albums by gangsta rappers like Wu-Tang Clan and Jay-Z. Supported by multilateral financial institutions, Jamaica has, since the early 1980's, sought to implement structural reforms aimed at fostering private sector activity and increasing the role of market forces in resource allocation. Often the lead instruments and vocals would drop in and out of the mix, sometimes processed heavily with studio effects. King Tubby's advantage came from his intimate knowledge with audio gear, and his ability to build his own sound systems and recording studios that were superior to the competition. He became famous for his remixes of recordings made by others as well as those he recorded in his own studio. Escaped slaves, known as maroons established independent communities in the mountainous interior that the British were unable to defeat, despite major attempts in the 1730s and 1790s. The colonial government enlisted the maroons in capturing escaped plantation slaves. Jamaica gained a degree of local political control in the late 1930s. There had been unrest and riots in anger at British policy and the People's National Party (PNP) was founded in 1938. The first election under full universal adult suffrage was held in 1944. The Island was a major base for pirates, especially at Port Royal before it was destroyed in an earthquake in 1692. A new capital Spanish Town was chosen in the south, and later moved to nearby Kingston. The official language is English, although the patois form Jamaican English is widely spoken. About three-quarter of the Jamaicans practice Christianity, spread over a large number of denominations. The remaining quarter adheres to various other religions, including local faiths such as Rastafarianism. The macroeconomic stabilization program introduced in 1991, which focused on tight fiscal and monetary policies, has contributed to a controlled reduction in the rate of inflation. The annual inflation rate has decreased from a high of 80.2% in 1991 to 7.9% in 1998. inflation for FY1998/99 was 6.2% compared to 7.2% in the corresponding period in FY1997/98. The Government remains committed to lowering inflation, with a long-term objective of bringing it in line with that of its major trading partners. The migration of unemployed people to urban areas, coupled with an increase in the use and trafficking of narcotics -- crack cocaine and ganja (marijuana) -- contribute to a high level of violent crime, especially in Kingston. The two long-established political parties have historical links with two major trade unions--the Jamaica Labour Party (JLP) with the Bustamante Industrial Trade Union (BITU) and the People's National Party (PNP) with the National Workers Union (NWU). A third party, the National Democratic Movement (NDM), was created in October 1995; it does not have links with any particular trade union. Some attempts were made to rebuild the city, starting with the one third of the city that was not submerged, but these met with mixed success and numerous disasters. An initial attempt at rebuilding was again destroyed in 1704, this time by fire. Subsequent rebuilding was hampered by several hurricanes in the first half of the 18th century, and soon Kingston eclipsed Port Royal in importance. Recent economic performance shows the Jamaican economy is recovering. Agricultural production, an important engine of growth increased 15.3% in third quarter of 1998 compared to the corresponding period in 1997, signaling the first positive growth rate in the sector since January 1997. Since the 1993 elections, the Jamaican Government, political parties, and Electoral Advisory Committee have worked to enact electoral reform, with limited success. In the 1997 general elections, grassroots Jamaican efforts, supplemented by international observers, helped reduce the violence that has tended to mar Jamaican elections. Local elections were held in 1998, when the PNP won a decisive victory. Jamaican law requires that local elections be held every 3 years; elections may be delayed through legislation.
1. Jamaica National Building Society
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