Jamaica Seeks $1 Billion to Rid Island of Guns and Crime

Minister Audley Shaw said.

Jamaica is seeking $1 billion in loans and grants to rid the country of “cancerous” drug gangs that have taken over poor neighborhoods on the Caribbean island and hurt economic growth, Finance. The violence can’t be allowed to continue.

Government officials met May 31 with representatives from the World Bank, Inter-American Development Bank, United Nations, the U.S. and European countries to seek funds to expand the police force and rebuild communities where drug lords have become governors.

Jamaica’s dollar gained 0.2 percent to 88.0750 per U.S. dollar today. The extra yield investors demand to own Jamaican government bonds instead of U.S. Treasuries fell 5 basis points to 5.14 percentage points, according to JPMorgan Chase & Co.