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The economy of Jamaica is heavily reliant on services, accounting for 71% of the country's GDP. [16] Jamaica has natural resources and a climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar, and bananas. [17]
Jamaica's initial quota was in the amount of US$20,000, which was allocated to the IMF in February 1963. Subsequently, Jamaica has increased its quota shares in 1966 (twice),and again in 1969, 1970, 1978, 1980, 1984, 1992, 1999, and in 2016. As of today, Jamaica has an outstanding (unpaid) loan in the amount of 528.78 million SDR's. [28]
Ongoing — COVID-19 pandemic in Jamaica. 1 February – Jamaican Prime Minister Andrew Holness says that his government is willing to send troops to Haiti as part of a "multinational security assistance deployment". [2] 6 May – Coronation of Charles III as King of Jamaica and the other Commonwealth realms.
Jamaica is an upper-middle-income country [14] with an economy heavily dependent on tourism; it has an average of 4.3 million tourists a year. [19] Jamaica is a parliamentary constitutional monarchy, with power vested in the bicameral Parliament of Jamaica, consisting of an appointed Senate and a directly elected House of Representatives. [8]
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4 July – Category 4 Hurricane Beryl causes a six- to nine-feet storm surge and fierce winds along Jamaica's southern coast, killing at least one person there before tracking to the Cayman Islands. [4] 26 July–11 August – Jamaica at the 2024 Summer Olympics [5]
Location of Jamaica. Jamaica is an island country situated in the Caribbean Sea, consisting of the third-largest island of the Greater Antilles. Jamaica is a mixed economy with both state enterprises and private sector businesses. Major sectors of the Jamaican economy include agriculture, mining, manufacturing, tourism, and financial and ...
On 23 April: the receipt of JMD$4 million from Jamaica Cooperative Credit Union League towards the government's drive to raise funds for the purchasing from personal protective equipment. [116] On 24 April: the suspension of dividend payments, by the country's central bank (the Bank of Jamaica), during the 2020 financial year. [117]