Since off lately Jamaica as been compared to Greece, Jamaica is now called the Greece of the Western Hemisphere. The reason for this is because of the high debt, Jamaica debt is 1.7 trillion dollars.
Last year Jamaica earn 1.6 billion and spend 5 billion, to me that is a joke how can a country earn so little and spend so much. That is just to show you how irresponsible the PNP lead government is. Jamaica have a high crime rate which is setting back production.
Another major problem is that Jamaicans don't eat or used Jamaican products and that is putting a great strain on the Jamaican importation bill. Jamaica is bless with sun and water and some part of the island is windy, the Jamaican government have failed to turn all these natural resources into energy so as to reduce the cost of production.
With that great debt the Jamaican government as failed to ink a loan agreement with lending agencies like the IMF. The only way out of the problem is to live with in our means, produce more and find alternative means of energy.
If we are lucky enough we will get a bailout like Greece.