Life And Debt Essay

990 Words4 Pages

On literature and violence

Sandy beaches, lush jungles and clear blue water... This is the Jamaica that we, the tourists, see. But beyond that there is a country that desperately fights unemployment, crime and poverty. The Film "Life and Debt" by Stephanie Black, narrates economic decline in Jamaica when it became free from England and the IMF and the World Bank started to help Jamaica by providing subsidies to state's economic development. The documentary shows how these loans affects not only economy but also citizens of Jamaica. These loans caused the country more than 4 billion dollars debt and it is constantly rising.
A group of Jamaicans watches the news as the director of the IMF, Horst Kohler says: "The issue is to make globalization work for the benefit of all. There will not be a good future for the rich if there is no prospect for a better future for the poor." So this should mean that poor countries must be a part of the global, capitalist economy in order for wealthier states to develop and to be financially secured. This H. Kohler's statement …show more content…

Moreover, it made Jamaica to devalue the currency in the country and so raise the cost for foreign goods, to cut the wages. These changes affected most of the farmers in Jamaica. For instance, for the dairy farmers: because of those changes mentioned above, Jamaica began to import powdered milk from the USA. This milk costs a lot cheaper and that is really important for Jamaicans when the wages were cut. It became too expensive for local farmers to produce milk. And imported production became demonstrably cheaper so destructing local agriculture of Jamaica. The example shows, what a strong impact wealthier countries have on poorer. It is relevant to material condition of citizens, their well-being, and it concerns the sovereignty of the