Governor of the Bank of Jamaica (BOJ), Brian Wynter, says the prospects for the Jamaican economy are positive, and the Bank projects continued recovery in economic activity. “The expected growth predominantly reflects an improvement in net external demand, buoyed by increased production in mining and quarrying and expansion in construction and tourism-related activities,” Mr. Wynter said. He was speaking at...

Governor of the Bank of Jamaica (BOJ), Brian Wynter, says the inflation rate is back on target. Speaking at the quarterly monetary policy report press conference, held at the Bank’s downtown Kingston offices on November 19, Mr. Wynter noted that inflation had fallen below the four per cent to six per cent target between March 2018 and August 2018. “However,...

Industry, Commerce, Agriculture and Fisheries Minister, Hon. Audley Shaw, has endorsed the proposed establishment of the Jamaica Social Stock Exchange [JSSE]. This is being initiated by the Jamaica Stock Exchange [JSE] as part of its corporate social responsibility. The endeavour aims to create a platform that lists the country’s social enterprises and not-for-profit entities and their projects, designed to assist...

Ambassador to the United States, Her Excellency Audrey Marks, says Jamaica’s economy is moving in the right direction, with positive developments in a number of areas. Ambassador Marks, who was delivering the keynote address at the 8th annual fundraising gala of HELP Jamaica Medical Mission in New Jersey recently, noted that the unemployment rate has dropped to a 50-year low...

Public-sector workers have been hailed for their contribution to the country’s positive performance in the 2017-2018 Global Competitiveness Report, which shows that Jamaica is ranked 27 out of 140 countries in labour market efficiency. Minister without Portfolio in the Ministry of Finance and the Public Service, Hon. Fayval Williams, lauded the workers during the media launch of Civil Service Week...

The House has approved the withdrawal of $223 million from the Capital Development Fund (CDF) to provide budgetary support to the Jamaica Bauxite Institute (JBI) for the 2018/19 financial year. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who moved the Withdrawal Order during the sitting of the House of Representatives on Tuesday (November 13), said...

The Development Bank of Jamaica (DBJ) has provided loans totalling more than $3 billion to fund a wide range of energy projects since 2008. The funds have been allocated from the DBJ’s resources as well as provisions from the PetroCaribe Fund, World Bank and Inter-American Development Bank. Managing Director, Milverton Reynolds, said the beneficiaries include approximately 280 businesses, which were...