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Jamaica: US$738 Million Corruption Cost – The Disease Eating Away Heart Of Jamaica

Jamaica continues to pay dearly for corruption, with an estimated five per cent of the gross domestic product lost each year to the practice, amounting to millions of dollars. This is a serious indication of the failure of successive administrations to do more than talk about this most egregious of crimes, according to president of the Jamaica Manufacturers and Exporters Association (JMEA) Metry Seaga.

“This is US$$738 million of our hard-earned money,” the businessman told yesterday’s weekly meeting of the Rotary Club of Kingston at The Jamaica Pegasus hotel in New Kingston.

While noting that business confidence was restored in 2018 and that the nation was back on a relatively good path of economic recovery, with employment on the rise, he is concerned that the economic advancement will be derailed unless key issues such as corruption are addressed. Seaga further charged that there is no indication that the growing disease is being given the priority attention it deserves.

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