More than 100 project managers across various government ministries, departments and agencies (MDAs) have, so far, been trained in the use of the Public Sector Investment Management System (PIMS). Speaking at a recent Jamaica Information Service (JIS) Think Tank at the Agency’s head office in Kingston, Executive Director for the Public Investment Management Secretariat (PIMSEC), Douglas Levermore, said training is...

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says the Government will be taking “tangible and consequential” steps to improve public-sector governance in the interest of all Jamaicans.  “In order to preserve the health and legitimacy of the Government in the 21stcentury, we have to ensure that the standards of governance in the public sector are transparent,...

Jamaica’s borrowing relationship with the International Monetary Fund (IMF) could end when the country’s US$1.6-billion Precautionary Stand-By Arrangement (PSBA) concludes in September 2019. Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says the Government and Fund are of the view that, barring any unforeseen circumstances, “Jamaica will be able to graduate from an IMF (borrowing arrangement) programme”....

Approximately 130 projects have been dealt with through the Public Investment Management System (PIMS) under the Ministry of Finance and the Public Service since its implementation in 2014. The web-based system screens project proposals from Ministries, Departments and Agencies (MDAs) to ensure that they are feasible and align with the development objectives of the country. The aim is to strengthen...

Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, has emphasised the importance of sound pension governance in safeguarding the interest of persons saving for retirement. Speaking at NCB Insurance Company (NCBIC) Limited’s pension seminar, held at The Jamaica Pegasus hotel, New Kingston, on May 29, the Minister said pension schemes are pivotal in...

Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, says the local private pensions industry has the potential to spur higher levels of sustainable economic growth for Jamaica. With assets totalling approximately $521 billion as at December 2017, representing about 25 per cent of gross domestic product (GDP), Mrs. Williams argued that increased pension...

Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, says the Government plans to proceed with phase two reforms to the Pensions Act and the attendant regulations, during the 2018/19 fiscal year. She made the announcement while addressing NCB Insurance Company Limited’s pension funds seminar, which was held at The Jamaica Pegasus hotel, New...

Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, is commending the Financial Investigations Division (FID) on its work over the past 15 years in deterring the use of Jamaica’s economy for money laundering and other financial crimes. She said that the entity is “ensuring that the country’s financial system remains safe and sound...

The Government has settled all judgement debts due at the end of the 2017/18 fiscal year, made possible through a provision of $1.309 billion from the Ministry of Finance and the Public Service. Minister of Justice, Hon. Delroy Chuck, who made the announcement during his contribution to the 2018/19 Sectoral Debate in the House of Representatives on May 22, said...