Jamaica has natural resources, primarily bauxite, and an ideal climate conducive to agriculture and tourism. The discovery of bauxite in the 1940s and the subsequent establishment of the bauxite-alumina industry shifted Jamaica's economy from sugar and bananas. By the 1970s, Jamaica had emerged as a world leader in export of these minerals as foreign investment increased.

The country faces some serious problems but has the potential for growth and modernization. The Jamaican economy suffered its fourth consecutive year of negative growth (0.4%) in 1999. All sectors excepting bauxite/alumina, energy, and tourism shrank in 1998 and 1999. In 2000, Jamaica experienced its first year of positive growth since 1995. Nominal economic growth has continued to the upside approximately in line with US growth since. This is the result of the government's continued tight macroeconomic policies, which have been largely successful^{[citation needed]}. Inflation fell from 25% in 1995 to single digits in 2000, reaching a multidecade low of 4.3% in 2004. Through periodic intervention in the market, the central bank also has prevented any abrupt drop in the exchange rate. However, the Jamaican dollar has been slipping, despite intervention, resulting in an average exchange rate of J$73.40 per US$1.00 and J136.2 per €1.00 (February 2011). In addition, inflation has been trending upward since 2004 and is projected to once again reach a double digit rate of 12-13% through the year 2008 due to a combination of unfavorable weather damaging crops and increasing agricultural imports and high energy prices.

Coordinates: 18°10′57″N 77°19′18″W / 18.1823878°N 77.3217773°W / 18.1823878; -77.3217773

Jamaica (ⁱ/dʒəˈmeɪkə/), officially the Commonwealth of Jamaica, is an island nation of the Greater Antilles, 234 kilometres (145 mi) in length, up to 80 kilometres (50 mi) in width, and 10,990 square kilometres (4,240 sq mi) in area. It is situated in the Caribbean Sea, about 145 kilometres (90 mi) south of Cuba, and 191 kilometres (119 mi) west of Hispaniola, the island harbouring the nation-states of Haiti and the Dominican Republic. The indigenous Arawakan-speaking Taíno name for the island was Xaymaca, meaning the "Land of Wood and Water" or the "Land of Springs".

Once a Spanish possession known as Santiago, it became an English colony in 1655 under the name "Jamaica". It achieved full independence from Britain on August 6, 1962. With 2.8 million people, it is the third most populous anglophone country in the Americas, after the United States and Canada. It remains a Commonwealth realm in concert with the Monarchy of Jamaica holding ultimate executive power, where Queen Elizabeth II is the current head of state and Queen of Jamaica.Kingston is the country's largest city and the capital.

Audley Shaw (born 13 June 1952) is a Jamaican politician. He has been the Minister of Finance and the Public Service in Jamaica since 2007.

Between 1983 and 1986, he became the Director of Public Relations and Advertising at the Jamaica National Investment Promotions Limited (JNIP). His responsibilities included overseeing operations in the various JNIP’s Marketing and Overseas Offices in the United States, Canada, Japan, Hong Kong and the United Kingdom and saw many new investments come to Jamaica. He resigned his position with Government and became a Merchant and Marketing Consultant, in 1986.

In 1989, Edward Seaga appointed Mr. Shaw to the Senate. He has served as Shadow Minister of Information and Culture, Shadow Minister of Public Utilities and Transport and Shadow Minister of Industry and Commerce and has been the Member of Parliament for North East Manchester since 1993.

Mr. Shaw has served as General Secretary of the Jamaica Labour Party and has been a Deputy Leader in the Party, since 1999, and was appointed Chairman of the Public Accounts Committee (PAC) of Parliament in 1995.