and data processing, printing and publishing, insurance underwriting, music and recording, and advanced education activities can be found in the larger urban areas. The Jamaican construction industry is entirely self-sufficient, with professional technical standards and guidance.
Since the first quarter of 2006, the economy of Jamaica has undergone a period of staunch growth. With inflation for the 2006 calendar year down to 6.0% and unemployment down to 8.9%, the nominal GDP grew by an unprecedented 2.9%. An investment programme in island transportation and utility infrastructure and gains in the tourism, mining, and service sectors all contributed this figure. All projections for 2007 show an even higher potential for economic growth with all estimates over 3.0% and hampered only by urban crime and public policies.
In 2006, Jamaica became part of the CARICOM Single Market and Economy (CSME) as one of the pioneering members.
The global economic downturn had a significant impact on the Jamaican economy for the years 2007 to 2009, resulting in negative economic growth. The government implemented a new Debt Management Initiative, the Jamaica Debt Exchange (JDX) on January 14, 2010. The initiative would see holders of Government of Jamaica (GOJ) bonds returning the high interest earning instruments for bonds with lower yields and longer maturities.The offer was taken up by over 95% of local financial institutions and was deemed a success by the government. Owing to the success of the JDX program, the Bruce Golding-led government was successful in entering into a borrowing arrangement with the IMF on Ferbruary 4,2010 for the amount of US$1.27b. The loan agreement is for a period of three years
