Minister Shaw Receives Finance Minister of the Year for the Caribbean Award

Photo: Derrick Scott Minister of Finance and Public Service, the Hon. Audley Shaw delivers his acceptance speech after accepting the Finance Minister of the Year for the Caribbean 2016 award at the GlobalMarkets Annual Awards reception held at Willard Intercontinental Hotel in Washington, DC on Saturday, October 14.

Story Highlights

  • Finance and the Public Service Minister, Hon. Audley Shaw, has been awarded Finance Minister of the Year for the Caribbean 2016, by the GlobalMarkets newspaper.
  • Minister Shaw received the award at the GlobalMarkets Annual Awards Reception held at the Willard Intercontinental Hotel in Washington, DC. on October 14.
  • In accepting the award, Minister Shaw said he was honoured and humbled that the Editorial Committee of GlobalMarkets Newspaper has selected him as the 2016 Finance Minister of the Year for the Caribbean.

Finance and the Public Service Minister, Hon. Audley Shaw, has been awarded Finance Minister of the Year for the Caribbean 2016, by the GlobalMarkets newspaper.

Minister Shaw received the award at the GlobalMarkets Annual Awards Reception held at the Willard Intercontinental Hotel in Washington, DC. on October 14.

He was among fifteen other Finance Ministers and Governors of Banks that received awards at the event.

In presenting the award, GlobalMarkets Managing Director, John Orchard said Minister Shaw was awarded for beating expectations and for being focused on growth and stability.

“The results of Jamaica’s economic performance are very impressive. The fiscal performance stands out and the new administration has run a large primary surplus,” Mr. Orchard said.

He added that though Mr. Shaw had a tough mandate, he had inherited the timeless task of pushing through the restoration of economic reform launched by the previous administration and necessitated by the country’s debt to Gross Domestic Product (GDP) ratio.

“His focus on cutting debt with an aggressive program of consolidation including overhauling the tax system and jettisoning some forty-percent of state-owned companies and to top it off, he is carrying a five percent GDP growth rate within four years. With such a performance, Minister Shaw, you are more than worthy of receiving the Finance Minister of the Year for the Caribbean award and we are more than honoured to present it to you,” Mr. Orchard stated.

In accepting the award, Minister Shaw said he was honoured and humbled that the Editorial Committee of GlobalMarkets Newspaper has selected him as the 2016 Finance Minister of the Year for the Caribbean.

He noted that the award is a welcome recognition of the tremendous hard work and sacrifice that the people of Jamaica have been making and an affirmation that the country’s economy is now firmly on a path to growth and wealth creation.

“I am particularly heartened to receive this award, as my Government, led by Prime Minister the Most Hon. Andrew Holness, was only given the responsibility for the stewardship of our economy in February 2016. At that time, I was charged with the responsibility of leading the team at the Ministry of Finance on this ambitious and challenging journey of economic transformation. Without their expertise, professionalism and unwavering dedication, I would not be here accepting this award today,” Mr. Shaw stated.

The Finance Minister also paid tribute to the multilateral development partners who provided Jamaica with significant support, as the country embarked on a path of reform that have further enhanced “our overall fiscal management; improved the efficiency and fairness of our tax system; and generally modernized the operations of the entire public sector.”

GlobalMarkets (formerly known as Emerging Markets) is the newspaper of record at the International Monetary Fund/World Bank, European Bank for Reconstruction & Development (EBRD), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and Inter-American Development Bank (IADB) annual meetings.

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