I can imagine. Happy for yall though. Hope the numbers materialize into better living conditions for the avg person. Im hoping for a Trinidad and Tobago video still.
Stability is being challenged by economic uncertainty, housing issues, foreclosures, global volatility, and the lasting effects of the pandemic. To regain stability and drive growth, all sectors must act swiftly to address concerns around rising inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
My CFA Melissa Terri Swayne a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper-inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
Sharon Ann Meny, is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Cost of living to income ratios in JA are still not the greatest. There's also a pretty visible brain drain. Glad to see Jamaica go in albeit slowly in the right direction
One thing that Jamaica needs to curb is the culture of corruption but America has a history of Operations Condor if any Caribbean or Latin American countries were even trying to socialise.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Public spending with debt is popular untill you can no longer borrow. And then, its way worse than all the hard times you avoided combined, at the same time.
@@Burito-tj5ryIt's all depends what you are spending it on. Japan for example is better shape because a lot of their debt fuels investments with returns, while most populism movements prop up failing businesses or social spending.
@@Burito-tj5ry Not all debt and public spending is Bad. Public Investments in infrastructure, education, industrial capital, etc., could generate revenue without extreme austerity.
It's sad that these illiterate dumb lazy people want to give pnp the keys to the safe to rob and loot and bring Jamaica back to the dark days.only dunce people who loves hand outs think that the country isn't better than it was 10 years ago
They said the key was cross party consensus, and not wasting the new physical space the previous party gained… also it was the IMF that set the rules not the PNP … but both parties showed discipline and stuck to it…. So appreciate the fact that they can work together to get this done for the betterment of the ppl and country and stop trying to sew divide
Yes it's improving with bad roads hospitals crumbling and the majority of its citizens living in proverty.No water in pipes for the poor. .Electricity is out of the reach of the ordinary Jamaicans some have to think about paying the bills or buy food while some decide to steal it.Jamaica has become mostly a couof hustlers instead of worker . Not to mention slave wages.
Wicked and lie tearing us apart, society is changing, young people are been educated and the country is moving. Some of those who are left behind born in the 70s to 90s who r not accepting change.
@@Guapo10292 Improved how? And how has the supposed tradeoff benefitted long term development goals, as was my point, like investment in education, the healthcare system, the infrastructure here in general ( poor road conditions and limited access to reliable public transportation, power outages and water shortages that continue to plague many parts of Jamaica) Even now Jamaica still remains heavily reliant on tourism as a primary source of foreign exchange because we lack a diversified economy. This dependence makes the country vulnerable to external shocks like natural disasters or global economic downturns, so "if the world US sneeze Jamaica catches a cold". There is still insufficient investment in diversifying the economy into sectors like as agriculture, manufacturing, and technology etc.. And no to mention the persistent poverty and inequality. Despite efforts to stabilize the economy, income inequality remains high, and many Jamaicans still live below the poverty line. I am not saying this is entirely the IMF faults, but its structure by their own right is very limiting, since we borrow. I largely blame the poor governance we have since "independence", for the most part. I bare no hope in the wisdom of either political party, as they are just greedy and corrupt, until they are not. The development challenges Jamaica faces today are a result of both IMF policies and domestic factors. The IMF’s focus on short-term stabilization, austerity, and debt repayment has contributed to underinvestment in key areas like education, healthcare, and infrastructure. However, Jamaica's own governance issues, policy choices, and economic structure also play a very significant role in the neglect of long term development goals that would benefit everyone more. We need a better balance between meeting fiscal responsibilities (often shaped by the IMF) and prioritizing sustainable investments in human capital, infrastructure, and climate resilience. The onus is on both us and the IMF to work together to ensure that stabilization efforts do not permanently sacrifice the country’s long term potential/goals.
@@Guapo10292people don't care about about the economy if it's not working for them. You not winning anybody over if you telling them the economy is great while they're still in poverty.
You can't have long term stability if your in perpetual debt that's common sense so paying off your debt will eventually reap benefits it's not gonna happen overnight not having to pay debt will eventually allow money to be available to spentd on the country
I don’t usually “like videos” but this one earned it. More of Jamaica please because we are tuned in and want outside analysis. Matter a fact come work for the government.
My family was a part of the brain drain. My great-aunts and uncles were highly educated Jamaicans that left the country in the 80s, one of them brought my mother along as a child.
I remember reading how bad Jamaica’s situation was back in 2017. People were saying that the IMF was holding them back and fucked them over. I can’t believe things have turned around.
As a Jamaican, sure, I can applaud our politicians for working together to get our high debt down, but, lol We're the 2nd poorest country in the Caribbean, 2nd weakest currency in the Caribbean, tax money commonly going unaccounted for, terrible healthcare, expensive education, high crime (both sides practically doing nothing about it), TERRIBLE roads, etc Oh and how can I forget, politicians constantly stealing money and buying expensive things, while the average person is poor. Calling Jamaica the "Caribbean Germany" made me laugh
I mean, I suppose calling Jamaica the “Caribbean Germany” is right in one aspect: Jamaica has has and is projected to have the weakest growth of the Commonwealth Caribbean countries, just like Germany has had and is projected to have the weakest growth in the EU
As a Jamaican lving here, hardly any of this positive news is felt in our day to day. Inflation is staggering and the economy feels stagnant. Most of the educated workforce leave and many who remain here, wish to leave.
I agree with you. At least the debt is being managed and I have to say with the exception of housing prices, most are at least working and spending. The price of fish is high, but people are paying it. Nows the time for workers to unionize or at least demand better pay. Some are already doing this, plus tradesmen are not taking the low pay anymore. Try to get your toilet fixed for $3000 now and you'll be waiting longer. The days of people hiring help for cheap are going away slowly. Workers need to recognize their worth and press for more. The hotels shouldn't be paying so low and demand your government pay teachers better by taxing the hotels.
@@NativeNomad10 I have friends who have started businesses and had to shut down after a few months. It is also very hard to get one of the MSME grants from the government due to how competitive and limited they are. Let's not talk about the bureaucracy and red tape in place. While its easy to get a certificate from Companies office, imagine waiting a whole year to trademark a brand or name before registering the business. This country can be a joke sometimes.
@@impy3077 well I am into business myself, the service industry actually and I can't relate. Red tape would only exist where licenses are required and once you have your licenses in a certain profession as well as your money, there is not much holding you back but yourself. Based on my business in America and Jamaica, I would say it's easier to run a business in Jamaica, less bureaucracy and red tapes vs in America. As for grants, maybe start focusing on businesses that require little start up capital and more so your knowledge/skills and the internet, then use that business to fund your other businesses. It's also funny you say grants are hard to get, I got one the other during covid to digitalize a process in my company and it was approved immediately after applying with the dbj. My neighbor also just got a step to work grant from the government to start up some kind of home based business. I guess we all have different experiences it seems.
It is sad how in many countries, if one party tries to fix government spending, and makes some progress, the other party will come in and spend all the money. More countries need parties who can at least agree on some minimum level of economic theory... like, "don't spend more than you have".
It’s very ironic that Jamaica of all places has their parties actually agreeing on this, considering that on literally everything else Jamaica’s two parties will disagree on everything. Literally to the point where a party will stop supporting something they’ve supported for decades, purely because the opposing party now supports it too. Jamaica’s two parties in the 1970s and 80s, and even up until today to a much lesser extent, effectively funded paramilitary groups to attack and kill supporters of the other party
@@mypdshp9309 yes, we spent too little, but if you spend too much, the interest on debt can be catastrophic. It's funny, because last year the money spent on debt repayment was about the same as our deficit. So if we lower our debt, we can spend less on interest and more on public services, borrow more at lower costs to reinvest, etc.
@@mypdshp9309 Thats the worst thing. Austerity in the UK didn't decrease our deficit, infact, it skyrocketed. commonslibrary.parliament.uk/research-briefings/sn06167/ Austerity works, just not when you have people who would much rather *reshuffle* that money to their mates than actually save money.
You forgot that Covid came and they had to invest a lot of money into that crisis, and you also forget that Jamaica is currently trying to overcome economic crisis and paying off debt
@@asmrslol848 miss me with that Call Centers alone generated an estimated US$ 900 million dollars in 2020 and they've been growing since now imagine the tax% the govt got from that and is still getting and mfs don't even know they can get tax rebates
I just want to say that I'm noticing the animation quality has sky rocketed. It's really well. Things like hiding the forecast figures until the voiceover brings them up is great to not deliver the wrong impression.
I went to Jamaica in 2022, it may be the IMF's favorite economy but it's got a loooong way to go. I've never seen so many sharks trying to steal or rob from you
I came across your channel through this video- case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
I'm a newbie talking about a financial market specialist, do you consider anyone worthy of recommendations? I have about 10Ok to test the waters now that large cap stocks are at a discount
in some ways we in Jamaica went from relying on the IMF to being "sponsored" by China, much in the same way China is extending a hand to countries across Africa
🇯🇲🇯🇲 This is working perfect for the IMF and their Austerities on our people. Am sure the IMF want us to stay the course indefinitely, meanwhile we have the worse currency in the Caribbean and 6 in 10 people looking for a way out of Jamaica for a better life. All because of IMF Austerities everything in Jamaica over priced and cost three times the normal price. I buy one gallon of orange juice, it was $2,200,.... that's almost the set minimum wage daily pay for Jamaica, thanks to our weak dollars keeping the IMF great.
Watching from Jamaica. Always glad to see positive international reporting of my country⚫🟡🟢. I hope we don't have to go back to the IMF. But if ancient Israel is any example, anything can happen when a generation drops the ball.
The brain drain is very real, I mean our finance minister that played a huge role in this has now left to work for the IMF. We have lost so many teachers, nurses, doctors, lawyers, engineers and the list goes on!
Living in Jamaica, I was not aware of this. The roads are bad, terrible water supply, bad water supply, towns overrun with trash, and incompetent politicians in both parties.
I live in Jamaica, and every beforeday morning in the town area, there are clean ups, but the people in that area are nasty and litter every chance they get. There are major road developments, especially in my parish st Thomas. We just got a highway and all of St Thomas roads are being worked on right back to Portland. Not to mention an entire town center is being built. There are several high ways built around the islands too and the road conditions are the best so far in Jamaica history since independence. Stop downplaying the developments. If your community has water issues, hold your member of parliament responsible, but dont act like it's the entire Jamaica facing what you are facing.
@@NativeNomad10 Good for you this is happening in what was the forgotten parish of St Thomas, but one parish is not the entire island. Yes I am pointing out that the development in Jamaica is mostly peripheral, around the coastline except for a few interior places. There are also not several highways being built around the island, let’s stick to facts, stop exaggerating about road conditions being the best since 1962. I travel all over the island and the road conditions are deplorable, especially in the local areas. I have done a few of these cleanups myself, but the government couldn’t care less about NSWA. I will also stick to my point about the incompetent politicians; you can worship them if you wish.
Nice video as always but here is my problem, Recently I've been pondering retirement, unsure if my 401(k) and IRA will provide a stable future. I want to put 800(K) into the stock market and start investing, but I'm not sure where to begin... Can anyone advise me on what to do?
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management
Opting for an inves-tment advisr is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
@@TashlynRosieAs a beginner what do I need to do? How can I start because I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advisor? I'll be happy to use some help.
As a Jamaican who grew up there and was a kid during the 2011 election and all the Dudus Coke stuff, I really had no idea what was really going on only what I heard and saw on Tv. I was under the impression that Jamaica’s economy was as bad as it gets so to see that my home country is going in the right direction makes me happy.
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them. People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
Financial education is what we need right now for more than 70% of the society in the country as very few are literate on the subject. Thanks to Jihan Wu, the man that changed my financial life.
Those Jamaicans you speak about don't care to be Jamaicans. Those Jamaicans only support Jamaica when it's winning. Those Jamaicans are sweets men and women. Those Jamaicans should leave right now and leave Jamaica to those who care to see it become a better state through our blood, sweat and tears. Those Jamaicans are sellouts and should start buying their oneway tickets now.
Stop speculating. While a lot of lower class would, not everyone is struggling in Jamaica and wouldnt give it up to live hard life in so called first world countries.
He overlooked the Democratic Socialism experiment of the late 70s _ 80s, which destroyed an already fragile economy. Kamala's dad, Donald Harris worked closely with the Manley regime at that time. Donald Harris is a Marxists economist. He lived large in the USA while the Jamaican people paid the price of this failed experiment. Remember, lada's and codfish being a luxury item? I do.
This is why passing IMF quoters is ridiculous to celebrate. Nothing in this video shows where this translates to a better quality of life for us living in Jamaica. Housing crisis, salaries increase, fuel, energy etc.
Rubbish...the housing situation in jamaica is getting better by the day..never in the history of jamaica has we ever seen these kinds of developments taking place
You are absolutely wrong. This is the beginning. Reducing and or eliminating the imf debt was the first stumbling block. The next is optimise crown corporations to get a more accurate outlook on our income/gdp to our expense so we can grow on our own and spend only what we earn as a country. This is like running a business, which is something we have done poorly for centuries due to ego and political ambitions.
@@blacksheepcommunity The IMF is a corrupt organization. No nation or politicians should bow to it. It is a modern form of slavery and a trick to keep nations and their populations enslaved. The IMF is a loan shark and operates like a mafia.
Never once mentioned employment, the heartbeat of any economy and society. No wonder Jamaicans keep fleeing abroad in droves despised the improved economy. What's the point of having a large bank account when your kids are starving.
Jamaicans are starving? Thats only possible if you fold your arms. Too many lands to legally capture with a great weather all year round for farming. Jamaica has a low unemployment rate and people migrate for several reasons. Some use this as a mean to jump classes in Jamaica. Thus from lower to upper class in a shorter time.
Dubai is a slave state, completely reliant on slaves and outside resources. It would fade back into the sand in an instant if trade was disrupted. I pray Jamaica does not face such a future.
Thanks to leadership of The Honourable Mrs. Portia Simpson-Miller and Dr. Peter Phillips for the brillant plan that worked and left behind the blueprint that Nigel Clarke used to carry on.....which is another story plus more!!!
because a lot of us jamaicans only pay attention to the negative news coming out of the country...jamaica is doing remarkable good we need to do our part to push our country to the top
Oh puh-leeze! The existing taxes are so high there was no room for any new ones without sparking serious social protest. Jamaica is one of the most over taxed countries in the world. No Jamaican, nor any politician should feel proud about that. Your comment is like saying: "Isn't it great? I broke both my legs in an accident and it's so good I didn't break another one" .Well, there wasn't another leg left to break. Just like Jamaica and more taxes. All a wi tax leg dem dun bruk aredi.
@@NativeNomad10 People trying to survive don't care about what is happening in other countries. They are just trying to survive and they feel deeply every attack made against their income. So do the ambitious people trying to build their businesses which can only have legitimacy and longevity if ithose businessess do not depend mainly on political patronage from a political affiliation. 20% tax against basic communication and double digit consumption tax against everything including food is stifling to people trying to survive and lift themselves up. Spreading corruption money around through political affiliates and supporters weakens a nation's long term development and is not the way to mask or compensate for stifling taxation and a weak economy. But those people who profit from being an insider to political tribalism and who benefit from corruption can always be purchased to sing praises about a corruption economy. Because they are rewarded directly or indirectly for it. Too much mangoose eena fowl coop eena Jamaica!
Please take into account illegitimate, unofficial or fraudulent taxation. Utility companies in Jamaica are allowed to strip money out of Jamaicans' bank accounts through fraudulent bills and politicians and administrations do nothing about it. Utility bills can double and triple within a given financial year with absolutely NO legitimate basis for sudden, sharp increases and NOTHING is done about it. Only the politically affiliated, and people who "know people" on the inside of the corruption are guaranteed any relief from the fraudulent financial parasitism that is openly allowed in Jamaica. The elderly and poor are preyed upon and treated with equal harshness and without mercy. You will see them arguing their cases, begging for help and mercy at utility company offices, and sometimes banks and tax offices. Jamaica governments allow brawling, in your face FRAUD to occur continually, throughout each financial year. This frustrates and devastates struggling people trying to survive, working very hard to build themselves, their families and businesses. Stop the applauding of a corruption economy, especially if you are politically affiliated and are directly or indirectly benefitting from it. You are spitting in the faces of those Jamaicans who are simply trying to hold their heads down, put their shoulders and backs into their fight to survive and thrive, and who a corruption economy tricks, defeats and stresses repeatedly. You insult their sacrifices and their families' sacrifices across generations. Too much dishonest mangoose leggo eena fowl coop eena Jamaica!
@@khlaps Not really? The World Bank’s Growth Forecast has Jamaica with the weakest economic growth in the Commonwealth Caribbean at just 0.8% this year. This compared to the smaller islands in the Eastern Caribbean like Grenada, Saint Lucia or Saint Vincent, whose projected growth is between 3.2% and 5% Even the more optimistic IMF only has Jamaica projected to grow by 1.8%, again significantly below the eastern Caribbean states where it predicts for example Grenada will grow with 4.1%
@@Croz89 That’s the case for the British Overseas Territories in the Caribbean, not the independent states I am comparing Jamaica to. Countries like Grenada, Saint Vincent or Saint Lucia are not tax havens, certainly not more so than Jamaica. Grenada in fact has a higher level of corporation tax than Jamaica, while both have no capital gains tax
@@LordDim1you’re making Jamaica sound like some third world country like Haiti or Cuba… when in reality it’s a country that’s rapidly developing. It’s unfair to compare Jamaica to it’s neighbours like Bahamas, Antigua and Barbados, as those countries are far smaller and popular tax havens. I think you forgot that Per-capita GDP isn’t the most accurate way to measure a country’s recent successes
I agree with this video, scaling back on spending was necessary even if it meant more potholes, dirty buses ( like some people are saying). Because once those high debts are paid off, spending can then focus everyday life needs. A slow process for sure... Good for Jamaica
The social and human sacrifice of the Jamaican people is real. Who destabilized and mashed up Jamaica's economy in the first place? It took 2+ generations to bring it back to where it is.
@@Grogu-485 Read your history, then go on the CIA website. Everything is there and declassified, and they are quiteproudof their actions. Free yourself from mental slavery.
Yes Jamaica is doing well poor roads in rural areas expensive food ,light bills ,slave wages, no water in the pipes for most ordinary Jamaicans Socialism for the rich and capitalism for the poor .pay cheque to pay cheque living.
Jamaicas educated,failed Jamaica, in that none acknowledge nor shared with the populace how OPEC gas price increases would impact the economy and country on a whole.Also the then opposition Party failed to acknowledge and publicize that information, of note too there was no support for the Bauxite that was proposed to neutralize the new gas price.My opinion is party politic took precedent over the country and its people. Unfortunately that behavior still exist and has continued to hold Jamaica and Jamaicans back.
@@vilmamcrae9512 that’s only part of the story, believe it or not the Chinese want us to be who we are, as they know political and historical our views are different from those countries who control the IMF and who have kept Jamaica down are very different, especially on the subject of reparations of slavery.
So basically with the IMF’s “help” Jamaica’s economy has become better at generating resources to pay foreign creditors and for some that’s a “success”. So when does the economy become successful at generating resources to serve the health, education, housing, infrastructure, technology, etc interests of the citizens of Jamaica 🇯🇲?
Rocking those NVDA, PALANTIR, TSLA, and APPL shares! Holding onto them for the long haul sounds good, but hey, I'm all up fort grabbing those short-term chances too, aiming for that sweet $400,000!
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Totally feel you on that! Stacy Lynn Staples's strategy has been a game-changer for me too. It's like hitting that major milestone when you look back at how it all began.
That's awesome! Googling her was a smart move. Her credentials are impressive, right? Reaching out for help is key, and scheduling that call is a solid step towards leveling up your game.
Considering the IMP is a gangster entity it's quite interesting Jamaica is in that position. Makes me wonder, is the IMF under humane management? For another perspective on the Jamaican economy there is a brilliant documentary called Life and Debt. It shows the racism of the global trade deals that destroyed the Jamaican industries over time making imports of inferior goods from corporations mandatory pricing out their homegrown produce.
He said nothing about living standards. That was never the point. The country since the 80s had been paying crippling debts and now although still paying debts, these debts no longer cripple. This is due to both governments(PNP,JLP) recognising that they need to be consistent at being prudent. Stop being partisan and emotional.
The IMF not telling you that their loans devalued the county local country. Put more debt into the country government. The export made expensive to get more foreign exchange but it can't that way forever.
What is so superficial about a country paying its debts and is now in a better place to helping its people and its economy develop. You are just a bitter person with nothing to do at home and if you are at work you are just slacking off.
@@jadeanomuzik8849 It is superficial because it downplays the reality on the ground that the average jamaican faces daily. Great that debts are being paid off but the country has made very little progress if providing meaningful benefits to the average person.
As a person that grew up in Jamaica, left for university in 2018 and came back six years later, it’s not superficial at all, the growth is very real and very visible.
@@impy3077there is more opportunities. What about going into agriculture, growing your own food, learning a skill, getting a free certification at HEART. Sound like you’re focused on the wrong things
@@kadinelindsayart Do you mean the conspicuous appearance of money from unexplainable sources? Or the sudden rise of "funny money" high rises and housing developments unaffordable to locals? Or do you mean rampant gentrification to replace Jamaicans, Jamaican culture and Jamaican neighbourhoods with foreigners and tourists, gentrified hybrid and foreign toxic "weed" outlets, sanitized and Americanized places and lifestyles? Or you must be talking about the rapid influx of foreign everything that is turning Jamaica into a little "urban USA outpost" Is that the "improvement' you are referring to?
I cannot state how devastated i am that our finance minister who is primarily responsible for this recovery is headed to the IMF..... Dr. Nigel Clarke is a legend
Don't be selfish and never you place all your eggs in one basket. Just as how we found him we will find others. Before him there was Audley Shaw and Peter Phillips who started the all rolling. Do not be ungrateful. Yes he did great but let go offah di man shirt an mek him spread him wings. This is why we teach our children to have principles and morality whilst ensuring they earn valuable skills to elevate our nation. Lets not sit licking our wounds.
@@irieify9334some jamaicans still don't get it, like where he compared Jamaica to Germany, he meant paying off debt after a a fall some jamaicans will think he meant standards of living
I never believed their 12% poverty rate even richer Caribbean islands like Bahamas, Barbados and Trinidad and Tobago has a 20% poverty rate Jamaica poverty rate is more like 30 %
@@paul-lq5nw But Jamaica is more developed than those islands for the local population though. Whats funny is that you think those islands are actually rich, 😂😂😂. Maybe on paper, but most of them sell citizenship and the money doesnt stay in their country or used to develop it. Most of Jamaica lower class have migrated, what remain is majority middle-upper income class.
@@NativeNomad10firstly the 3 countries I had mentioned has a high income economy Jamaica has a upper middle income economy Secondly those same 3 countries has higher HDI are much more developed than Jamaica in terms of Infrastructure ,Education,Healthcare,Transportation and Social Programs etc, none have citizens passport programs Thirdly Inequality is a global problem each country has inequality issues Jamaica is 2nd in the World for brain drain their skilled professionals migrated Lastly Jamaica poverty figures are grossly exaggerated under reported Jamaica had 30 plus years of economic stagnation resulted in the same 3 countries I had mentioned being more advanced than Jamaica That not to say Jamaica didn't do well realistically others done better is a Fact
I'm glad to watch a video about my home country that isn't about bobsledding or Reggae lol. This is a very informative video on Jamaica's economy from a large overhead view. I left Jamaica when I was 13 in 2008, so I'm interested to see how things are now.
Or crime. Every other video about Jamaica has visiting the most dangerous places in Kingston as a part of the title. They leave you thinking Jamaica is nothing but a war zone.
In the real world Ja does not feel like there is progress.The financial capital still floods whenever we have 30mins of rain, the private sector is putting the Gov to shame with external partnerships, infrastructure maintenance is non existent & most Jamaicans are disillusioned with the fact that if more expensive things are seen it means we are doing better economically, namely motor vehicles & electronics. Our debts may have been paid up, but majority of the economic mentality is still living in the early 80's. Recently available jobs require 2-5yrs work experience, when the training program barely exists accredited 2yrs, majority of the jobs are the same secretarial type which have existed for 20yrs with the exception of the private sector of course with call centers being the new rave, while the bigger heads & positions are never vacant, because they won't leave & keep the job market flowing.
Its going to take decades for Jamaica to be where it was during its hey day but I'm glad to see some positive improvements thus far but we have a long way to go honestly, especially with the cost of living and population decline.
@@coby8665 The IMF usually makes its loans contingent on the receiver country destroying all its labour laws and implementing neoliberal stuff, meaning that even if the economy grows the average person ends up far worse off.
A crucial element that this video does not explain is: with the government cutting in spending, where does the investment come from? How did they get growth and employment going?
As a Jamaican, it has never-ever once crossed my mind that Jamaica would one day be a topic for TLDR news.
And it’s not just about Weed or Bob Marley either. I thought I misread the title and was imagining the thumbnail
Same
Just dont go in the water where the sharks are
same
Same
Waking up to a video about my country on a channel i watch religously just hit Different
I can imagine. Happy for yall though. Hope the numbers materialize into better living conditions for the avg person. Im hoping for a Trinidad and Tobago video still.
Different 🎉🇯🇲
Think a did me 1
Love there channel
bomboclat
Stability is being challenged by economic uncertainty, housing issues, foreclosures, global volatility, and the lasting effects of the pandemic. To regain stability and drive growth, all sectors must act swiftly to address concerns around rising inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
My CFA Melissa Terri Swayne a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing..
researched about her, she is legit i will work with her for sure thanks.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyper inflationary environment, individuals must continue to use their hyper-inflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
@@SeanTalkoff How can i get started when it comes to investing and passive income?
Sharon Ann Meny, is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Cost of living to income ratios in JA are still not the greatest. There's also a pretty visible brain drain. Glad to see Jamaica go in albeit slowly in the right direction
The good thing about this, is that Brain Drain is usually coming back
One thing that Jamaica needs to curb is the culture of corruption but America has a history of Operations Condor if any Caribbean or Latin American countries were even trying to socialise.
High crime too.
Brain drain never comes back? If you can’t match their original wages why would they return?
@@FiredAndIcedthey shouldn’t socialize. Your implication that socialism is the result of no corruption is ass backwards.
TLDR, it would be good to also mention that Jamaica's Finance minister was recruited to be deputy managing director of the IMF
Have nothing to do with it though
@@MD_ENTERTAINMENT thank you. not sure why that comment was neccesary
@@carlmathews5778 politics😂😂
@@MD_ENTERTAINMENT lol
why wouldn't this be relevant? this video is about finance and the economy which he would have had a hand in@@MD_ENTERTAINMENT
Jamaica recently had the best performing stock exchange in the world (scaled)!
Very proud of Jamaica!
From your southern neighbor 🇹🇹
Where did you get this news from?
Google is free. @@brawlaj
That was a good few years ago now. It probably had the worst recently unfortunately.
@@gbrown9694,Just this week Jamaica broke grounds on 4 new massive projects.Jamaica is moving in da right direction
@@brawlaj That me tell Unnu bout Unnu resentful Jamaicans.Only negative stories y'all seek on Jamaica
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Jamaica definitely did not become Jamaicans favorite economy
Public spending with debt is popular untill you can no longer borrow. And then, its way worse than all the hard times you avoided combined, at the same time.
@@Burito-tj5ryIt's all depends what you are spending it on. Japan for example is better shape because a lot of their debt fuels investments with returns, while most populism movements prop up failing businesses or social spending.
@@Burito-tj5ry Not all debt and public spending is Bad. Public Investments in infrastructure, education, industrial capital, etc., could generate revenue without extreme austerity.
Amen to this
UK, US, Canada, & Cayman Islands have been Jamaicans favourite economies
Yo seeing yall talk about Jamaica in a positive light makes this Canadian born Jamaican happy 😅❤
So a Canadian not a Jamaican smh
@@Travvvy no Jamaican smh. If both or one of his parents are Jamaicans he’s Canadian-Jamaican
@@Travvvy there is such thing as being a dual national ya know? lol
@@Travvvy it's cool my guy your entitled to your opinion
Our country can be even in a better place if lot of us go back home and invest in business and try uplift our brothers and sisters
As a long time viewer of TLDR.... never thought they'd do a feature about my homeland 🇯🇲. Many thanks to Nigel Clarke ✌🏽
the soon Deputy Director at the IMF ...bro gad made a grate choice appointing him 🔔
While they literally said the key to all this is JLP continuing what PNP started
It's sad that these illiterate dumb lazy people want to give pnp the keys to the safe to rob and loot and bring Jamaica back to the dark days.only dunce people who loves hand outs think that the country isn't better than it was 10 years ago
They said the key was cross party consensus, and not wasting the new physical space the previous party gained… also it was the IMF that set the rules not the PNP … but both parties showed discipline and stuck to it…. So appreciate the fact that they can work together to get this done for the betterment of the ppl and country and stop trying to sew divide
@@romariotaylor9938 ikr but someone had come in the comments with the partisan bootlicking😂
Glad to see things are improving in Jamaica. Hope it continues to go well.
they aren't.
not for jamaicans.
Yes it's improving with bad roads hospitals crumbling and the majority of its citizens living in proverty.No water in pipes for the poor. .Electricity is out of the reach of the ordinary Jamaicans some have to think about paying the bills or buy food while some decide to steal it.Jamaica has become mostly a couof hustlers instead of worker . Not to mention slave wages.
Wicked and lie tearing us apart, society is changing, young people are been educated and the country is moving. Some of those who are left behind born in the 70s to 90s who r not accepting change.
What improvements!
Anything good for the IMF is horrible for the people. Where do citizens think the austerity policies come from. Under development?
As a Jamaican, actually living in Jamaica, the IMF scares me to my core. Long term development goals sacrificed for short term stabilization.
That would’ve been a valid opinion a decade ago, but now we can see in hindsight the measures worked as intended to improve the Jamaican economy
@@Guapo10292 Improved how? And how has the supposed tradeoff benefitted long term development goals, as was my point, like investment in education, the healthcare system, the infrastructure here in general ( poor road conditions and limited access to reliable public transportation, power outages and water shortages that continue to plague many parts of Jamaica)
Even now Jamaica still remains heavily reliant on tourism as a primary source of foreign exchange because we lack a diversified economy. This dependence makes the country vulnerable to external shocks like natural disasters or global economic downturns, so "if the world US sneeze Jamaica catches a cold".
There is still insufficient investment in diversifying the economy into sectors like as agriculture, manufacturing, and technology etc..
And no to mention the persistent poverty and inequality. Despite efforts to stabilize the economy, income inequality remains high, and many Jamaicans still live below the poverty line.
I am not saying this is entirely the IMF faults, but its structure by their own right is very limiting, since we borrow. I largely blame the poor governance we have since "independence", for the most part. I bare no hope in the wisdom of either political party, as they are just greedy and corrupt, until they are not.
The development challenges Jamaica faces today are a result of both IMF policies and domestic factors. The IMF’s focus on short-term stabilization, austerity, and debt repayment has contributed to underinvestment in key areas like education, healthcare, and infrastructure. However, Jamaica's own governance issues, policy choices, and economic structure also play a very significant role in the neglect of long term development goals that would benefit everyone more.
We need a better balance between meeting fiscal responsibilities (often shaped by the IMF) and prioritizing sustainable investments in human capital, infrastructure, and climate resilience. The onus is on both us and the IMF to work together to ensure that stabilization efforts do not permanently sacrifice the country’s long term potential/goals.
@@KadbrosCouldn't have said it better.
Half-Jamaican living in America here, hoping the best for the brothers and sisters across the water
@@Guapo10292people don't care about about the economy if it's not working for them. You not winning anybody over if you telling them the economy is great while they're still in poverty.
You can't have long term stability if your in perpetual debt that's common sense so paying off your debt will eventually reap benefits it's not gonna happen overnight not having to pay debt will eventually allow money to be available to spentd on the country
TLDR : Jamaica is the Germany of the Carribbean.
Jamaicans: 🚬 bomboclaat!!!
Same suh
The DR is the Germany of the Caribbean. It is the largest of central America and the Caribbean region.
Lmaoooo fr 😂
Raasclaat
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣😭😭😭😭😭😭😭😭😭
I don’t usually “like videos” but this one earned it. More of Jamaica please because we are tuned in and want outside analysis. Matter a fact come work for the government.
4:41 "Fiscal incontinence"? That's a good way to put it.
Yeah I had to chortle at that one.
Same. Was probably a fumble that they didn't catch and I got a laugh out of it.
Pissing their money away
Very happy for Jamaica
My family was a part of the brain drain. My great-aunts and uncles were highly educated Jamaicans that left the country in the 80s, one of them brought my mother along as a child.
I remember reading how bad Jamaica’s situation was back in 2017. People were saying that the IMF was holding them back and fucked them over. I can’t believe things have turned around.
They havent turned it around lol. IMF are still fucking them and that's why Jamaica is their favorite 🍑
Love to see my country on a channel I watch. TLDR should do more videos on jamaica especially like how we are due for a general election.
Kindly send this video to Pakistan government
hard to compare. Jamaica population 2 mil...Pakistan 200 mil.
Send it to the U.S. politicians too, force them to downsize on everything except NASA.
Sri Lanka as well.
@@marvinsantos2977 3 million and thanot the point
And when done send to Ghana 🇬🇭 😂😂😂
As a Jamaican, sure, I can applaud our politicians for working together to get our high debt down, but, lol
We're the 2nd poorest country in the Caribbean, 2nd weakest currency in the Caribbean, tax money commonly going unaccounted for, terrible healthcare, expensive education, high crime (both sides practically doing nothing about it), TERRIBLE roads, etc
Oh and how can I forget, politicians constantly stealing money and buying expensive things, while the average person is poor. Calling Jamaica the "Caribbean Germany" made me laugh
I mean, I suppose calling Jamaica the “Caribbean Germany” is right in one aspect: Jamaica has has and is projected to have the weakest growth of the Commonwealth Caribbean countries, just like Germany has had and is projected to have the weakest growth in the EU
Well, it'll take decades to undo the damage.
I am Trinidadian and I was dying when he said Caribbean's Germany.
@@calc1657 And IMF won't help as they infamous place them into deeper debt trap and reform economy that only mean one thing: neoliberation
The roads give me nightmares
Proud of my little island ❤
As a Jamaican lving here, hardly any of this positive news is felt in our day to day. Inflation is staggering and the economy feels stagnant. Most of the educated workforce leave and many who remain here, wish to leave.
Speak for yourself
@@MarkClarke-m4i exactly
I agree with you. At least the debt is being managed and I have to say with the exception of housing prices, most are at least working and spending. The price of fish is high, but people are paying it. Nows the time for workers to unionize or at least demand better pay. Some are already doing this, plus tradesmen are not taking the low pay anymore. Try to get your toilet fixed for $3000 now and you'll be waiting longer. The days of people hiring help for cheap are going away slowly. Workers need to recognize their worth and press for more. The hotels shouldn't be paying so low and demand your government pay teachers better by taxing the hotels.
Because many are looking for handouts so they have no interest in economics.
Considering I live here, Jamaica sure isn't my favourite economy right now.
Maybe you should think about going into business, then im sure it will become your favorite.
@@NativeNomad10 I have friends who have started businesses and had to shut down after a few months. It is also very hard to get one of the MSME grants from the government due to how competitive and limited they are. Let's not talk about the bureaucracy and red tape in place. While its easy to get a certificate from Companies office, imagine waiting a whole year to trademark a brand or name before registering the business. This country can be a joke sometimes.
This is what the IMF want everyone to live like
@@impy3077 well I am into business myself, the service industry actually and I can't relate. Red tape would only exist where licenses are required and once you have your licenses in a certain profession as well as your money, there is not much holding you back but yourself. Based on my business in America and Jamaica, I would say it's easier to run a business in Jamaica, less bureaucracy and red tapes vs in America. As for grants, maybe start focusing on businesses that require little start up capital and more so your knowledge/skills and the internet, then use that business to fund your other businesses. It's also funny you say grants are hard to get, I got one the other during covid to digitalize a process in my company and it was approved immediately after applying with the dbj. My neighbor also just got a step to work grant from the government to start up some kind of home based business. I guess we all have different experiences it seems.
go and look a job, no more hand outs around here...BIG UP TO ALL WHO WORKS AND DONT WAIT FOR HANDOUTS...
Nice to hear good news for once ❣️
It is sad how in many countries, if one party tries to fix government spending, and makes some progress, the other party will come in and spend all the money. More countries need parties who can at least agree on some minimum level of economic theory... like, "don't spend more than you have".
It’s very ironic that Jamaica of all places has their parties actually agreeing on this, considering that on literally everything else Jamaica’s two parties will disagree on everything. Literally to the point where a party will stop supporting something they’ve supported for decades, purely because the opposing party now supports it too. Jamaica’s two parties in the 1970s and 80s, and even up until today to a much lesser extent, effectively funded paramilitary groups to attack and kill supporters of the other party
Because Austerity has been such a proven concept, just look at the UK!
@@mypdshp9309 yes, we spent too little, but if you spend too much, the interest on debt can be catastrophic. It's funny, because last year the money spent on debt repayment was about the same as our deficit. So if we lower our debt, we can spend less on interest and more on public services, borrow more at lower costs to reinvest, etc.
@mypdshp9309 I mean it worked in the 80s. It started working under the coalition as well, but Brexit mucked up everything
@@mypdshp9309 Thats the worst thing. Austerity in the UK didn't decrease our deficit, infact, it skyrocketed.
commonslibrary.parliament.uk/research-briefings/sn06167/
Austerity works, just not when you have people who would much rather *reshuffle* that money to their mates than actually save money.
best video yet and on jamaica
You should see the roads. Definitely shows that we are not spending money
The roads and public transport needs work, busses aren't cleaned or maintained regularly which makes me wonder where tf is the tax money going?
Yes
You forgot that Covid came and they had to invest a lot of money into that crisis, and you also forget that Jamaica is currently trying to overcome economic crisis and paying off debt
@@Cuunke And people waiting 2, 3, 4 hours for a bus. When the taxis go on strike, those who don't have a car or can't carpool are stranded 🤦🏾♀️
@@asmrslol848 miss me with that Call Centers alone generated an estimated US$ 900 million dollars in 2020 and they've been growing since now imagine the tax% the govt got from that and is still getting and mfs don't even know they can get tax rebates
I just want to say that I'm noticing the animation quality has sky rocketed. It's really well.
Things like hiding the forecast figures until the voiceover brings them up is great to not deliver the wrong impression.
I went to Jamaica in 2022, it may be the IMF's favorite economy but it's got a loooong way to go. I've never seen so many sharks trying to steal or rob from you
What are you even talking about? No context …?
Damn sharks in the water? Don't go swimming 😂 PLUS locals will never rob a tourist - the police will hunt them down and actually do their job
@@d.phillips4214 no... it doesn't
@@SerMajorEchoIt means that normal jamaicans dont see the improvements it looks like are being made on the outside.
@@d.phillips4214no
love this jamaica is slowly but surely turning around we people just need to be patient the signs are they’re but we can’t fix 50 years in ten
I came across your channel through this video-
case studies are incredibly valuable, and I'm eager
to see more in the future! Building wealth involves
establishing routines, like consistently setting aside
funds at regular intervals for smart investments.
You're correct. I think the smartest way to go is
to spread out your investments. By putting
your money into different asset classes like
bonds, real estate, and stocks from other
countries, you can lower the risk if one part of
the market goes bad.
That sounds like a good plan. In the past two
years, working closely with a financial market
specialist, I've built a six-figure diversified
stock portfolio. Now, I aim to diversify even
more this year.
I'm a newbie talking about a financial market specialist, do
you consider anyone worthy of
recommendations? I have about 10Ok to test
the waters now that large cap stocks are at a
discount
Ms Martha Ann Hammerton was my hope during the
'bear summer lost year . I did so many
mistakes but also learned so much from it
I remember giving her my first savings
$12,990
and she opened a brokerage account for me it
turned out to be the best thing that ever
happened to me.
Never watched your channel, however Had to tune in since it’s related to Jamaica. Earned a new viewer!
Congratulations Jamaica!
Thx
Still not happy.
on what ngga?
@@aleysibbs2461😊😊😊
lol oh please you really falling for this. There is always a catch!
in some ways we in Jamaica went from relying on the IMF to being "sponsored" by China, much in the same way China is extending a hand to countries across Africa
🇯🇲🇯🇲
This is working perfect for the IMF and their Austerities on our people.
Am sure the IMF want us to stay the course indefinitely, meanwhile we have the worse currency in the Caribbean and 6 in 10 people looking for a way out of Jamaica for a better life.
All because of IMF Austerities everything in Jamaica over priced and cost three times the normal price.
I buy one gallon of orange juice, it was $2,200,.... that's almost the set minimum wage daily pay for Jamaica, thanks to our weak dollars keeping the IMF great.
Watching from Jamaica. Always glad to see positive international reporting of my country⚫🟡🟢. I hope we don't have to go back to the IMF. But if ancient Israel is any example, anything can happen when a generation drops the ball.
The brain drain is very real, I mean our finance minister that played a huge role in this has now left to work for the IMF. We have lost so many teachers, nurses, doctors, lawyers, engineers and the list goes on!
Same in Guyana
@ very sad as Guyana too is destined for greatness! We keep losing our people!
Living in Jamaica, I was not aware of this. The roads are bad, terrible water supply, bad water supply, towns overrun with trash, and incompetent politicians in both parties.
There is no investment or spending. Imf collect the money 😂
@annmariebusu9924 They have stopped their payments as they paid off the loan, according to this video.
I live in Jamaica, and every beforeday morning in the town area, there are clean ups, but the people in that area are nasty and litter every chance they get. There are major road developments, especially in my parish st Thomas. We just got a highway and all of St Thomas roads are being worked on right back to Portland. Not to mention an entire town center is being built. There are several high ways built around the islands too and the road conditions are the best so far in Jamaica history since independence. Stop downplaying the developments. If your community has water issues, hold your member of parliament responsible, but dont act like it's the entire Jamaica facing what you are facing.
@@NativeNomad10 SPARK programme also and STEM.
@@NativeNomad10 Good for you this is happening in what was the forgotten parish of St Thomas, but one parish is not the entire island. Yes I am pointing out that the development in Jamaica is mostly peripheral, around the coastline except for a few interior places. There are also not several highways being built around the island, let’s stick to facts, stop exaggerating about road conditions being the best since 1962. I travel all over the island and the road conditions are deplorable, especially in the local areas. I have done a few of these cleanups myself, but the government couldn’t care less about NSWA. I will also stick to my point about the incompetent politicians; you can worship them if you wish.
Nice video as always but here is my problem, Recently I've been pondering retirement, unsure if my 401(k) and IRA will provide a stable future. I want to put 800(K) into the stock market and start investing, but I'm not sure where to begin... Can anyone advise me on what to do?
Using a 401(k) or IRA is a valuable strategy for retirement planning, providing potential savings growth and tax advantages. While the stock market is promising, expert guidance is essential for effective portfolio management
Nice. those who work with expert typically earn more than those who go alone.
Opting for an inves-tment advisr is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
@@TashlynRosieAs a beginner what do I need to do? How can I start because I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advisor? I'll be happy to use some help.
As a beginner, it's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Henne Nate for years and highly recommend him
As a Jamaican who grew up there and was a kid during the 2011 election and all the Dudus Coke stuff, I really had no idea what was really going on only what I heard and saw on Tv. I was under the impression that Jamaica’s economy was as bad as it gets so to see that my home country is going in the right direction makes me happy.
Hit 401k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in July 2024.,..
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them. People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio
Waking up every 14th of each month to £210,000 it’s a blessing to I and my family… Big gratitude to Jihan Wu🙌
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still believe in God
Financial education is what we need right now for more than 70% of the society in the country as very few are literate on the subject. Thanks to Jihan Wu, the man that changed my financial life.
The funny part is when IMF scooped up our Minister of Finance a couple months ago
It may be IMF favourite but most Jamaicans would leave the country in a heart beat to work abroad.
Those Jamaicans you speak about don't care to be Jamaicans. Those Jamaicans only support Jamaica when it's winning. Those Jamaicans are sweets men and women. Those Jamaicans should leave right now and leave Jamaica to those who care to see it become a better state through our blood, sweat and tears. Those Jamaicans are sellouts and should start buying their oneway tickets now.
Same china,Russia,China,, Africa Trinidad ,what are you saying
If we could, but I'm happy for now.
Stop speculating. While a lot of lower class would, not everyone is struggling in Jamaica and wouldnt give it up to live hard life in so called first world countries.
@@NativeNomad10 first world countries aren't even first world anymore
He overlooked the Democratic Socialism experiment of the late 70s _ 80s, which destroyed an already fragile economy. Kamala's dad, Donald Harris worked closely with the Manley regime at that time. Donald Harris is a Marxists economist. He lived large in the USA while the Jamaican people paid the price of this failed experiment. Remember, lada's and codfish being a luxury item? I do.
Yes Jamaica is the favorite because we owe the IMF the most money in the Caribbean
😂😂😂😂
This is why passing IMF quoters is ridiculous to celebrate. Nothing in this video shows where this translates to a better quality of life for us living in Jamaica. Housing crisis, salaries increase, fuel, energy etc.
Rubbish...the housing situation in jamaica is getting better by the day..never in the history of jamaica has we ever seen these kinds of developments taking place
You are absolutely wrong. This is the beginning. Reducing and or eliminating the imf debt was the first stumbling block. The next is optimise crown corporations to get a more accurate outlook on our income/gdp to our expense so we can grow on our own and spend only what we earn as a country. This is like running a business, which is something we have done poorly for centuries due to ego and political ambitions.
@@blacksheepcommunity The IMF is a corrupt organization. No nation or politicians should bow to it. It is a modern form of slavery and a trick to keep nations and their populations enslaved. The IMF is a loan shark and operates like a mafia.
Never once mentioned employment, the heartbeat of any economy and society. No wonder Jamaicans keep fleeing abroad in droves despised the improved economy.
What's the point of having a large bank account when your kids are starving.
Jamaicans are starving? Thats only possible if you fold your arms. Too many lands to legally capture with a great weather all year round for farming. Jamaica has a low unemployment rate and people migrate for several reasons. Some use this as a mean to jump classes in Jamaica. Thus from lower to upper class in a shorter time.
Jamaica 🇯🇲 can become the Dubai of the Caribbean . A lot of potential
Dubai is a slave state, completely reliant on slaves and outside resources. It would fade back into the sand in an instant if trade was disrupted. I pray Jamaica does not face such a future.
As a Jamaican, this title gave me whiplash. 😅😅😅😅😅😅😅
It must be a joke 😂
Wtf with starting the comment with ‘as a Jamaican’ y’all sound dumb y’all are the only people who do that corny crap under RUclips videos
Thanks to leadership of The Honourable Mrs. Portia Simpson-Miller and Dr. Peter Phillips for the brillant plan that worked and left behind the blueprint that Nigel Clarke used to carry on.....which is another story plus more!!!
I was born in Jamaica but this story has slipped under my radar.
because a lot of us jamaicans only pay attention to the negative news coming out of the country...jamaica is doing remarkable good we need to do our part to push our country to the top
I was talking to a friend about this very topic yesterday.
Thank Dr Nigel Clarke
Go Jamaica you are leader from you were born.
No new taxes in 8 years I don't know about anybody else but I live here and I'm loving it
I second that, its ripe for startup businesses
Oh puh-leeze! The existing taxes are so high there was no room for any new ones without sparking serious social protest. Jamaica is one of the most over taxed countries in the world. No Jamaican, nor any politician should feel proud about that.
Your comment is like saying:
"Isn't it great? I broke both my legs in an accident and it's so good I didn't break another one"
.Well, there wasn't another leg left to break. Just like Jamaica and more taxes. All a wi tax leg dem dun bruk aredi.
@@musicacrossages8471 Based on taxes around the world, the existing taxes are actually not that much.
@@NativeNomad10 People trying to survive don't care about what is happening in other countries. They are just trying to survive and they feel deeply every attack made against their income. So do the ambitious people trying to build their businesses which can only have legitimacy and longevity if ithose businessess do not depend mainly on political patronage from a political affiliation.
20% tax against basic communication and double digit consumption tax against everything including food is stifling to people trying to survive and lift themselves up. Spreading corruption money around through political affiliates and supporters weakens a nation's long term development and is not the way to mask or compensate for stifling taxation and a weak economy. But those people who profit from being an insider to political tribalism and who benefit from corruption can always be purchased to sing praises about a corruption economy. Because they are rewarded directly or indirectly for it. Too much mangoose eena fowl coop eena Jamaica!
Please take into account illegitimate, unofficial or fraudulent taxation. Utility companies in Jamaica are allowed to strip money out of Jamaicans' bank accounts through fraudulent bills and politicians and administrations do nothing about it. Utility bills can double and triple within a given financial year with absolutely NO legitimate basis for sudden, sharp increases and NOTHING is done about it. Only the politically affiliated, and people who "know people" on the inside of the corruption are guaranteed any relief from the fraudulent financial parasitism that is openly allowed in Jamaica. The elderly and poor are preyed upon and treated with equal harshness and without mercy. You will see them arguing their cases, begging for help and mercy at utility company offices, and sometimes banks and tax offices.
Jamaica governments allow brawling, in your face FRAUD to occur continually, throughout each financial year. This frustrates and devastates struggling people trying to survive, working very hard to build themselves, their families and businesses. Stop the applauding of a corruption economy, especially if you are politically affiliated and are directly or indirectly benefitting from it. You are spitting in the faces of those Jamaicans who are simply trying to hold their heads down, put their shoulders and backs into their fight to survive and thrive, and who a corruption economy tricks, defeats and stresses repeatedly. You insult their sacrifices and their families' sacrifices across generations. Too much dishonest mangoose leggo eena fowl coop eena Jamaica!
There are so many takeaways from this presentation and so many answer.
To call Jamaica a “Caribbean Germany” is… quite a stretch. It remains per capita the poorest of all the Commonwealth Caribbean countries
It's economy has much healthier trends then rest. Won't remain at bottom long unless something goes catastrophically wrong
@@khlaps Not really? The World Bank’s Growth Forecast has Jamaica with the weakest economic growth in the Commonwealth Caribbean at just 0.8% this year. This compared to the smaller islands in the Eastern Caribbean like Grenada, Saint Lucia or Saint Vincent, whose projected growth is between 3.2% and 5%
Even the more optimistic IMF only has Jamaica projected to grow by 1.8%, again significantly below the eastern Caribbean states where it predicts for example Grenada will grow with 4.1%
To be fair, a lot of them are tiny tax havens which make nearly all of their money from financial services. Jamaica isn't.
@@Croz89 That’s the case for the British Overseas Territories in the Caribbean, not the independent states I am comparing Jamaica to. Countries like Grenada, Saint Vincent or Saint Lucia are not tax havens, certainly not more so than Jamaica. Grenada in fact has a higher level of corporation tax than Jamaica, while both have no capital gains tax
@@LordDim1you’re making Jamaica sound like some third world country like Haiti or Cuba… when in reality it’s a country that’s rapidly developing. It’s unfair to compare Jamaica to it’s neighbours like Bahamas, Antigua and Barbados, as those countries are far smaller and popular tax havens. I think you forgot that Per-capita GDP isn’t the most accurate way to measure a country’s recent successes
Can't believe this is on the a channel I watch every day proud to be a Jamaica
Being liked by the IMF is not a red flag but a crimson flag.
I’d say you *never* want to be liked by the IMF.
@@tavi_knightno
I agree with this video, scaling back on spending was necessary even if it meant more potholes, dirty buses ( like some people are saying). Because once those high debts are paid off, spending can then focus everyday life needs.
A slow process for sure... Good for Jamaica
As a Jamaican living abroad I can tell you that there is something sinister behind this!
Watch the money!
You Smart!
some of you socal jamaicans doesn't want to see jamaica develop but the ongoing development of jamaica is going to give you haters a heart attack
@@alphansoworth9775 A lot of them aren't even Jamaicans, but you know how dedicated haters are like.
No wonder why the roads are crap, no investment.
The social and human sacrifice of the Jamaican people is real. Who destabilized and mashed up Jamaica's economy in the first place? It took 2+ generations to bring it back to where it is.
The same governments that mash it up(JLPand PNP) a dem same one a fix it back. It should be seen as maturity.
PNP mash up Jamaica in the 70s and 90s
@@Grogu-485 Read your history, then go on the CIA website. Everything is there and declassified, and they are quiteproudof their actions. Free yourself from mental slavery.
@@jadeanomuzik8849The JLP was growing the e only bu 12% in the 60s and 70's .but they match it up.
Sure there's more explaining to do but thanks for yaking the time to research and deliver the info here.
Yes Jamaica is doing well poor roads in rural areas expensive food ,light bills ,slave wages, no water in the pipes for most ordinary Jamaicans Socialism for the rich and capitalism for the poor .pay cheque to pay cheque living.
Did you guys proud on Usain Bolt?
Jamaicas educated,failed Jamaica, in that none acknowledge nor shared with the populace how OPEC gas price increases would impact the economy and country on a whole.Also the then opposition Party failed to acknowledge and publicize that information, of note too there was no support for the Bauxite that was proposed to neutralize the new gas price.My opinion is party politic took precedent over the country and its people.
Unfortunately that behavior still exist and has continued to hold Jamaica and Jamaicans back.
"fiscal incontinence" is my favorite economic concept 😂
Why is the govt still dealing with them. PNP finance minister Davies got rid if them many years ago. Why the jlp keep inviting them back in?
Chinese investment in Jamaica made the difference, with no ridiculous interest rates and impossible monetary conditions.
Exactly!!!!!
Lie. It's good governance
@@vilmamcrae9512 that’s only part of the story, believe it or not the Chinese want us to be who we are, as they know political and historical our views are different from those countries who control the IMF and who have kept Jamaica down are very different, especially on the subject of reparations of slavery.
Anything that’s positive for my country is a blessing. 🇯🇲🔥✅🙌🏾
good morning tldr
So basically with the IMF’s “help” Jamaica’s economy has become better at generating resources to pay foreign creditors and for some that’s a “success”. So when does the economy become successful at generating resources to serve the health, education, housing, infrastructure, technology, etc interests of the citizens of Jamaica 🇯🇲?
It's a parasitic, vampiristic relationship. Devaluation of the locals is the ultimate goal and result.
Rocking those NVDA, PALANTIR, TSLA, and APPL shares! Holding onto them for the long haul sounds good, but hey, I'm all up fort grabbing those short-term chances too, aiming for that sweet $400,000!
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Looking to connect with your licensed financial advisor ASAP since your portfolio's taking a hit?
Looking to connect with your licensed financial advisor ASAP since your portfolio's taking a hit?
Totally feel you on that! Stacy Lynn Staples's strategy has been a game-changer for me too. It's like hitting that major milestone when you look back at how it all began.
That's awesome! Googling her was a smart move. Her credentials are impressive, right? Reaching out for help is key, and scheduling that call is a solid step towards leveling up your game.
Considering the IMP is a gangster entity it's quite interesting Jamaica is in that position. Makes me wonder, is the IMF under humane management? For another perspective on the Jamaican economy there is a brilliant documentary called Life and Debt. It shows the racism of the global trade deals that destroyed the Jamaican industries over time making imports of inferior goods from corporations mandatory pricing out their homegrown produce.
Is this a case of making the books look good but the living standards for the Jamaican people have been dreadful.
He said nothing about living standards. That was never the point. The country since the 80s had been paying crippling debts and now although still paying debts, these debts no longer cripple. This is due to both governments(PNP,JLP) recognising that they need to be consistent at being prudent. Stop being partisan and emotional.
You people are sick .Acting like Jamaica is Haiti, many successful Jamaicans have risen in the country. JAMAICAS ISSUES ARE BIGGER THAN MONEY
True! Jamaicia has been starting to look like haiti.
@@brawlaj At Jamaica's best time we are starting to look like Haiti??? Yall sick
@@brawlajjamaica is going to give you haters a heart attack. ..keep watching
The IMF not telling you that their loans devalued the county local country. Put more debt into the country government. The export made expensive to get more foreign exchange but it can't that way forever.
Today in another instalment of TLDR telling an economic success story based on superficial indicators
What is so superficial about a country paying its debts and is now in a better place to helping its people and its economy develop. You are just a bitter person with nothing to do at home and if you are at work you are just slacking off.
@@jadeanomuzik8849 It is superficial because it downplays the reality on the ground that the average jamaican faces daily. Great that debts are being paid off but the country has made very little progress if providing meaningful benefits to the average person.
As a person that grew up in Jamaica, left for university in 2018 and came back six years later, it’s not superficial at all, the growth is very real and very visible.
@@impy3077there is more opportunities. What about going into agriculture, growing your own food, learning a skill, getting a free certification at HEART. Sound like you’re focused on the wrong things
@@kadinelindsayart Do you mean the conspicuous appearance of money from unexplainable sources? Or the sudden rise of "funny money" high rises and housing developments unaffordable to locals? Or do you mean rampant gentrification to replace Jamaicans, Jamaican culture and Jamaican neighbourhoods with foreigners and tourists, gentrified hybrid and foreign toxic "weed" outlets, sanitized and Americanized places and lifestyles? Or you must be talking about the rapid influx of foreign everything that is turning Jamaica into a little "urban USA outpost" Is that the "improvement' you are referring to?
So where did the money go ? I’m so glad you raised that question
Good question. Who or what is the IMF?????!!! Start there to find the answer.
I cannot state how devastated i am that our finance minister who is primarily responsible for this recovery is headed to the IMF..... Dr. Nigel Clarke is a legend
Don't be selfish and never you place all your eggs in one basket. Just as how we found him we will find others. Before him there was Audley Shaw and Peter Phillips who started the all rolling. Do not be ungrateful. Yes he did great but let go offah di man shirt an mek him spread him wings. This is why we teach our children to have principles and morality whilst ensuring they earn valuable skills to elevate our nation. Lets not sit licking our wounds.
@jadeanomuzik8849 thanks for the epistle it however did nothing to change how I feel about the losing Dr Clarke.
@@jmcan21well said.
True..
Thanks great video and insightful
This is a very simplistic way of describing Jamaica’s economic growth.
he put it where the goats can get it.
@@irieify9334some jamaicans still don't get it, like where he compared Jamaica to Germany, he meant paying off debt after a a fall some jamaicans will think he meant standards of living
@@Gfjhdyin Standard of living in Jamaica vs Germany isn't that far off either so no wonder why people might think that way.
1:50 This graph is deceptive because it doesn't control for inflation. In constant dollars, Jamaica is today as rich as it was in the mid 90s.
IMF and world bank is what put country like jamaica in this problem it had
No it's not. Our leaders are the problem. My grandmother would call them red eye, they think they can't do without
BINGO!!!!
@@waynenation678lol 😂
@@waynenation678boom that’s it
We can't feel this. Everything is still getting more expensive and people still in poverty
As a Jamaican some of us need not to make stupid comment and do ur home work first
Incredible! Well done to them! And without a sudden natural resource boom to save them.
*2024* Inflation: 7%, GDP nominal per capita: $7,310, HDI: 0.706, Poverty rate: 12.3%
Conclusion: I don't think so. 😅
I never believed their 12% poverty rate even richer Caribbean islands like Bahamas, Barbados and Trinidad and Tobago has a 20% poverty rate Jamaica poverty rate is more like 30 %
Nah, that is what it means to be friends with the IMF, poverty for the majority while a minority get rich
@@paul-lq5nw But Jamaica is more developed than those islands for the local population though. Whats funny is that you think those islands are actually rich, 😂😂😂. Maybe on paper, but most of them sell citizenship and the money doesnt stay in their country or used to develop it. Most of Jamaica lower class have migrated, what remain is majority middle-upper income class.
@@NativeNomad10firstly the 3 countries I had mentioned has a high income economy Jamaica has a upper middle income economy
Secondly those same 3 countries has higher HDI are much more developed than Jamaica in terms of Infrastructure ,Education,Healthcare,Transportation and Social Programs etc, none have citizens passport programs
Thirdly Inequality is a global problem each country has inequality issues Jamaica is 2nd in the World for brain drain their skilled professionals migrated
Lastly Jamaica poverty figures are grossly exaggerated under reported Jamaica had 30 plus years of economic stagnation resulted in the same 3 countries I had mentioned being more advanced than Jamaica
That not to say Jamaica didn't do well realistically others done better is a Fact
Jamaica is going to give you haters a heart attack...keep watching
I'm glad to watch a video about my home country that isn't about bobsledding or Reggae lol. This is a very informative video on Jamaica's economy from a large overhead view. I left Jamaica when I was 13 in 2008, so I'm interested to see how things are now.
Or crime. Every other video about Jamaica has visiting the most dangerous places in Kingston as a part of the title. They leave you thinking Jamaica is nothing but a war zone.
Jamaica's economy is basically the same as it was in 1995 (world bank data)
Very interesting. I did not know about Jamaica 's economic history
In the real world Ja does not feel like there is progress.The financial capital still floods whenever we have 30mins of rain, the private sector is putting the Gov to shame with external partnerships, infrastructure maintenance is non existent & most Jamaicans are disillusioned with the fact that if more expensive things are seen it means we are doing better economically, namely motor vehicles & electronics. Our debts may have been paid up, but majority of the economic mentality is still living in the early 80's.
Recently available jobs require 2-5yrs work experience, when the training program barely exists accredited 2yrs, majority of the jobs are the same secretarial type which have existed for 20yrs with the exception of the private sector of course with call centers being the new rave, while the bigger heads & positions are never vacant, because they won't leave & keep the job market flowing.
They have pay off the imf debts before they can start fixing anything
And we are just under the feet of another debtor.
@@REALEYEZ1718 wrong, Jamaica is already working on fixing things. From multiple roads works, hospitals, business and town centers, education, etc.
Its going to take decades for Jamaica to be where it was during its hey day but I'm glad to see some positive improvements thus far but we have a long way to go honestly, especially with the cost of living and population decline.
Being friends with the IMF is, not very good to say the least
It isn't.
@@coby8665 The IMF usually makes its loans contingent on the receiver country destroying all its labour laws and implementing neoliberal stuff, meaning that even if the economy grows the average person ends up far worse off.
Jamaicans still do not understand this!!! And, until they do they will remain the 2nd poorest country.
1don and that's Nigel Clarke.
We also have pakistan who needs IMF money to pay the interest of debt given by China
Damn
A crucial element that this video does not explain is: with the government cutting in spending, where does the investment come from? How did they get growth and employment going?
Being a favorite to imf is never a good sign ☢️
The people of the island would think different because of what they’re experiencing but thanks for the info