For the 2017/2018 fiscal year, over $376 million worth of counterfeit goods were seized at the nation’s ports by the Jamaica Customs Agency (JCA), in collaboration with the Counter-Terrorism and Organised Crime Investigation Branch (C-TOC). This was disclosed by Director of the Contraband Enforcement Team, Jamaica Customs, Albert Anderson, during a press conference held recently at C-TOC’s headquarters, 8-10 Ocean...

Prior to the end of the Precautionary Stand-By Arrangement with the IMF Jamaica will develop, with the technical assistance of multilateral partners, a Public Financial Management Policy for Natural Disaster Risk combined with a ten-year operational plan for its implementation that takes into account fiscal space and other limitations. The Minister of Finance and the Public Service, Dr. Nigel Clarke...

Minister of Finance, Dr. Nigel Clarke has announced that the Bank of Jamaica (BOJ) has retained the services of Mr. David Marston, a former Senior Advisor, Deputy Director and Chief Risk Officer of the International Monetary Fund (IMF) to advise the BOJ on the non-banking financial sector. Dr. Clarke made the announcement while speaking at the Caribbean Association of Insurance...

Prime Minister, the Most Hon. Andrew Holness, says private financial institutions should provide more support for business development, particularly micro, small and medium-size enterprises (MSMEs). Mr. Holness’ comments come against the background of what he says is the seeming reluctance by some banks to provide access to credit and other resources for businesses which “are good (entities) in and of...

Inter-American Development Bank (IDB) Caribbean Country Department General Manager, Therese Turner-Jones, says the Jamaican labour force must be equipped to operate in a world characterised by rapidly evolving technology. “It is imperative to empower Jamaicans to embrace technology by enabling them to thrive in an environment that is constantly changing (thus) preparing them for a career that entails lifelong learning,”...

The House of Representatives, on April 11, began debate on the Public Procurement (Amendment) Bill that seeks to regulate the procurement of goods, works and services by agencies. The legislation was piloted by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke. Dr. Clarke noted that the Government, as the single biggest spender in Jamaica, is committed...

Finance and the Public Service Minister, Dr. the Hon. Nigel Clarke, says Jamaica must be disciplined in the management of its economic affairs in order to ensure that there will be no need to return to the International Monetary Fund (IMF), once the current programme relationship ends. The Government’s Precautionary Stand-By Agreement with the international financial institution is scheduled to...