Finance and the Public Service Minister, Hon. Audley Shaw, says a comprehensive public sector transformation plan is being finalised for tabling in the Houses of Parliament. He said the document, which is being prepared by the Public Sector Transformation Implementation Unit, will provide full details of the State entities to be divested, merged, subsumed into Central Government or closed.  Eighty-four...

General Manager of the Urban Development Corporation (UDC), Dr. Damian Graham, has reiterated the Government’s commitment to undertake the downtown Kingston Redevelopment Project. He highlights construction of new offices in downtown Kingston that will house the Ministry of Foreign Affairs and Foreign Trade. “It is an 11-storey building worth almost $4 billion. The UDC was asked to step in with...

Minister of Finance and the Public Service, Hon. Audley Shaw, says Jamaican farmers now have the technology to produce quality crops that can supply both local and international markets. He made the remarks as he addressed executives from the World Bank, as well as farmers and other stakeholders at the Schwallenburgh Greenhouse Cluster and Water Harvesting Project in Rio Hoe,...

Jamaica is virtually assured of an additional US$180 million from the International Monetary Fund (IMF), if needed, by meeting all quantitative targets and structural benchmarks in the second review. The review was conducted under its Precautionary Stand-by Arrangement (PSBA) with the multilateral institution for the period up to June 30, 2017. Head of the IMF’s Mission to Jamaica, which conducted...

Cabinet has given approval for a revised budget of $58.3 million for the completion of the Financial Sector Adjustment Company (FINSAC) Commission of Enquiry Report. Making the disclosure at yesterday’s (September 13) post-Cabinet press briefing at Jamaica House, Minister of Education, Youth and Information, Senator the Hon. Ruel Reid, said approval was also granted for a recommendation to the Governor-General...

Cabinet has approved a proposal to withdraw the one-cent, 10-cent and 25-cent coins from circulation. Making the announcement at today’s (September 13) post-Cabinet press briefing, Minister of Education, Youth and Information, Senator the Hon. Ruel Reid said the move is pursuant to subsections 16 (1) and 16 (3) of the Bank of Jamaica Act. He said the coin denominations that...

Eleven members of the World Bank Group (WBG) Board of Executive Directors will pay a two-day visit to Jamaica from Thursday (September 14) to Saturday, (September 16). The delegation, representing 98 member countries from the Caribbean, Latin America, North America, Europe, Africa, Middle East, Asia, and the Pacific, will discuss Jamaica’s development priorities, emerging opportunities and challenges. They will also...