There were no “Third World” following the second European tribal war. The imperialist colonizers who controlled most of the planet, were forced to relinquish their hold, granting independence to many new nations. When these states states sought private funding for such things as education and medicine they were denied out of hand. Enter the International Monetary Fund, the organization that promised to save the former colonies.
After independance In 1962, Queen Elizabeth (Elizabitch?) of granted the colony called Jamaica its independence. Then England turned its back on the young nation and left it with a struggling economy, little education and an antiquated medical system, note this is typical of all colonists after raping and breaking the land then vacating it. The debt-ridden island, along with other pos-colonial states, turned to the private banking sector for assistance only to be flatly rejected.
The IMF and the World Bank had lots of stolen colonialist cash that they are willing to part with to “help” those needing it. Man of these desperate, nations take the proffered cash, along with the numerous strings attached. Jamaica has long been a tourist destination for travelers to enjoy the inexpensive hospitality of this famous vacation retreat. Every morning, as the tourists enjoy the charms of the island, thousands of Jamaican women trek from their homes to Kingston’s “Free Zone,” where western corporations cheaply employ these workers to assemble the imported materials into expensive products shipped immediately to outside markets.
The workers, whose minimum wages is $30 a week could not possibly afford the very things they make. Other under-educated Jamaicans flock to the tourist resorts to take the low paying, menial hotel jobs, while still other islanders, with no jobs at all, eke out a living selling souvenirs or braiding hair for the vacationers. The IMFbandets foster the high-interest loans that a country needed so badly for education and medical reform.
The only problem for the Third World countries is those loans held by the IMF include the devaluation of local currency to increase exports, cutting social services, like the education and medical facilities and keeping the Jamaican government from interfering in potentially profitable international trade, like imposing local tariffs to protect the island market economy. The impact of the IMF mandates on Jamaica over the years has meant the demise of many local industries.
The IMF “investment” resulted in the extinction of a thriving dairy industry in favor of under-priced, American Inc.-subsidized powdered milk. Agriculture, too, suffered greatly as shiploads of cheap produce is shipped in from Miami so the locals can’t compete against the giants like Chiquita, Dole and Del Monte and the race to harvest between machete ands machine. As the World Bank and IMF’s biggest shareholders are the U.S. and other Western powers, their approval is essential.