Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says the movement in the Jamaican currency is a function of demand and supply associated with a flexible exchange rate regime. He noted that while “we were conditioned to see movements in the currency as being related to macroeconomic instability”, this is not the case for Jamaica. The Minister,...

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says Jamaica could be in a position to borrow from the international capital market in local currency within five years. He said that the country is already on this trajectory, citing the Government’s move towards attaining operational independence for the Bank of Jamaica (BOJ), supported by a credible inflation-targeting...

The Ministry of Finance and the Public Service is to design a fee structure for payment to members of the Integrity Commission. Speaking at today’s (July 24) post-Cabinet press briefing at Jamaica House, Minister without Portfolio with responsibility for Education, Youth and Information, Hon. Karl Samuda, said this follows Cabinet’s approval. “The Commission has convened approximately 22 meetings since its...

Noted Angel Investor, Sandra Glasgow, has welcomed the proposed Sidecar Fund Facility to be implemented by the Government, which will provide equity financing to early-stage, scalable and investment-ready business start-ups. The facility, with technical and funding support from the Inter-American Development Bank (IDB), will make $200 million in equity financing available to business start-ups by matching the support from identified...

International Monetary Fund (IMF) Resident Representative, Dr. Constant Lonkeng Ngouana, says he is encouraged by Government-led multi-stakeholder efforts to spur higher levels of sustainable growth for Jamaica. This, he notes, is through interventions and measures designed to address the underlying impediments. He was speaking at the Rotary Club of St. Andrew’s weekly luncheon at Hotel Four Seasons in New Kingston,...

Business leaders and tourism stakeholders in Montego Bay are expecting a major financial boost from the staging of the annual Reggae Sumfest. The event is being held over seven days, from July 14 to 20, and will be highlighted by a stage show on July 19 and 20 at Catherine Hall. Montego Bay’s Mayor, Councillor Homer Davis, told JIS News...

The International Monetary Fund (IMF) will maintain operations at its Jamaica office beyond November, when the country officially concludes its current arrangement with the organisation. Resident Representative, Dr. Constant Lonkeng Ngouana, said while it is the norm for the IMF to close its local office when its programme with a country ends, the decision to maintain the Jamaica office for...