Jamaican stock exchange rallies to become world’s best-performing

By: Robin Wigglesworth

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Jamaica’s stock market ranks as the world’s best-performing over the past year, thanks to a dramatic economic turnround that culminated in the country exiting its IMF programme with flying colours last month. The Caribbean nation has struggled economically for large parts of its post-independence history, and after the financial crisis became mired in debt. Government debt peaked at 147 per cent of gross domestic product in 2013, and the cost of servicing it consumed a third of the country’s fiscal budget. In May that year the country entered into a $2bn IMF financing agreement.

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