JAMAICA will have the seventh slowest growth rate in the world up to 2015, according to a new International Monetary Fund (IMF) report analysed by the Business Observer, indicating missed opportunities for the debt-ridden country.

No cranes dot the capital city's business centre, its roads are filled with holes similar to the tattered clothes of beggars at the stoplights, and oftentimes youth recite an expression that reflects a lack of opportunity -- nothin' nah gwan'. Jamaica, however, can expect more of the same as it is projected to trail some 143 nations in the world in growth statistics, which is a barometer of prosperity. With projections of about 1.3 per cent annually over the next five years, the island will grow three times slower than the world economy, according to charts within the World Economic Outlook (WEO) published this month by the IMF. Unfortunately, the country's output or gross domestic product (GDP) could dip even further due to Tropical Storm Nicole which killed about 13 persons and destroyed infrastructure last month.

"The rains will affect GDP performance because it resulted in loss of productive time. Further, it will widen the fiscal deficit, which has the potential to derail other economic variables and can result in serious problems for the macro-economy, if not managed properly,"said Densil Williams, a Mona School of Business lecturer, in response to Business Observer queries.

The only territories -- amongst 150 -- projected to grow at a slower pace on average than Jamaica over five years are St Kitts & Nevis at 0.3 per cent, oil-rich Venezuela at 0.33 per cent, Brunei Darussalam at 1.03 per cent, Croatia at 1.03 per cent, Antigua at 1.13 per cent and Equatorial Guinea at 1.23 per cent. Interestingly, three of the six territories trailing Jamaica are in the Latin America and Caribbean region. However, generally, the region is projected to outperform the world economy at 4.5 per cent on average over the period, due to stellar performances expected from Brazil, Argentina, the Dominican Republic, Peru, Chile and Colombia.

Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent.