„In 2007 Jamaicans voted the People's National Party, which had ruled for 18 years, out of office. They elected instead the Jamaica Labour Party led by Bruce Golding, a cerebral, articulate man who, however, lacked deep reservoirs of popular support. Given the state of the economy, Golding moved into Jamaica House -- the prime minister's office complex -- with about the shortest menu of options for fixing the country's problems that one could imagine. When the global financial crisis hit shortly thereafter, it became even shorter.
Whereas other countries tried to right their economies by rescuing the faltering financial industries with infusions of capital, Jamaica, lacking capital of any kind, did not have that option. Instead, it negotiated a debt-exchange agreement with its bankers, which were supported by the International Monetary Fund. In return, the IMF demanded a program of fiscal austerity. Soon, interest rates fell, the currency stabilized, and, for the first time in years, it seemed that the economy might grow.