Jamaicans are getting ready for the certain impact that the financial woes in the USA will have on its economy. With a significant amount of Jamaica foreign exchange coming from Tourism and remittance there will be a direct and indirect hit on Jamaica starting in early 2009.
Jamaica depends on Jamaicans in the US who sends goods and money to their relatives and friends. With Jamaicans living in the USA losing their jobs or facing cut backs there will be a reduction in the amount of cash flowing to the island from this source. There will also be a reduction in the amount of barrels shipped. We are hoping that the recession will not be too lengthy so has to render a devastating blow to the economy.