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Life and Debt
Life and Debt explores the effect of the International Monetary Fund's (IMF) policies on developing countries through Jamaica's experience with the organization. In order to receive loans from the IMF, the country entered into a tricky agreement with its lenders. The terms of the loan stipulated that Jamaica had to agree to reduce trade barriers by withdrawing its local import restrictions, and thus enter the world market. The local economy became flooded with foreign goods, which were cheaper than those produced locally, resulting in a loss of jobs and economic self-reliance.
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