embed embed share link link comment comment
Embed This Video close
Share This Video close
Watch Life and Debt for free and then help us promote this on Facebook, Twitter, Digg
or any other social bookmarking website of your choice by clicking on one of the bookmarking icons below.
Take a moment to share this valuable knowledge and make this world a better place.

embed test
Report Broken Video embed
Please report this video as Broken if there are any playback issues!
We'll try to find a new working video for you as soon as possible.
Contact us to report Broken Video (Don't forget to mention the name of this documentary/movie.)
rate rate tags tags related related lights lights
Information

Life and Debt explores the effect of the International Monetary Fund’s (IMF) policies on developing countries through Jamaica’s experience with the organization. Jamaica, having gained its independence from Britain in 1962, found itself struggling as a result of the oil embargo the following year. In order to receive loans from the IMF, the country entered into a tricky agreement with its lenders.
The terms of the loan stipulated that Jamaica had to agree to reduce trade barriers by withdrawing its local import restrictions, and thus enter the world market. The local economy became flooded with foreign goods, which were cheaper than those produced locally, resulting in a loss of jobs and economic self-reliance. Interviews with Stanley Fisher, Deputy Director of the IMF, reveal that the IMF’s mission is to alleviate short-term deficits, not assuage long-term economic hardship.