test 5.12.22 page 2 1/2 Jamaica Flashcards
Microfinance Loans mean
people in LICs receiving smalls loans from traditional banks.
A positive of Microfinance Loans:
Loans enable people to begin their own businesses
a negative of of Microfinance Loans:
Its not clear they can reduce poverty at a large scale.
Foreign-direct investment means
when one country buys property or infrastructure in another country.
a positive of Foreign-direct investment:
Leads to better access to finance, technology & expertise.
a negative of Foreign-direct investment:
Investment can come with strings attached that country’s will need to comply with.
Aid means
one country giving money or resources to another country.
a positive of aid is
Improve literacy rates, building dams, improving agriculture.
a negative of aid is
Can be wasted by corrupt governments or they can become too reliant on aid.
Debt Relief means
This is when a country’s debt is cancelled or interest rates are lowered.
a positive of Debt Relief is
Means more money can be spent on development.
a negative of Debt Relief is
Locals might not always get a say. Some aid can be tied under condition from donor country.
Fair trade means
when farmers get a fair price for the goods produced.
a positive of Fair trade is
Paid fairly so they can develop schools & health centres.
a negative of Fair trade is
Only a tiny proportion of the extra money reaches producers.
Technology means
Tools, machines and affordable equipment that improve quality of life.
a positive of Technology is
Renewable energy is less expensive and polluting.
a negative of Technology is
Requires initial investment and skills in operating technology
In 2015, ____ _____ visited Jamaica.
2.12 million
Tourism contributes ___ of GDP in Jamaica
27%
_________ jobs rely on tourism
130,000
Global recession in ____ caused a decline in tourism. Now tourism is beginning to recover.
2008
the first Development Problem is that :
Tourists do not always spend much money outside their resorts.
the third Development Problem is that :
Infrastructure improvements have not spread to the whole island.
the second Development Problem is that :
Many people in Jamaica still live in poor quality housing and lack basic services such as healthcare
