General Manager of the Inter-American Development Bank’s (IDB) Caribbean Country Department, Therese Turner-Jones, says the prospect for growth in the Jamaican economy is better than it has ever been. “This is possible as long as oil prices remain low and as long as the macroeconomic situation remains stable, and by that I mean the debt is coming down,” she said....

Jamaica has received some US$50 million ($6.41 billion) in loan funding from the Inter-American Development Bank (IDB), under its Fiscal Structural Programme for Economic Growth (FISPEG) III. The loan will boost tax revenues, enhance control over budgetary expenditure and reinforce customs administration effectiveness. Speaking at the signing ceremony, held today (December 19), at the  Ministry of Finance and the Public...

President and Chief Executive Officer of Sagicor Group, Richard Byles, is urging the Government to consider implementing a reverse mortgage programme as an additional source of funds for retirees. He said it would enable retirees to borrow against their home's equity, while maintaining ownership of the property. Under this scheme, no repayment of the mortgage, principal or interest is required until...

On Sunday, December 18, 2016, Jamaica joins other member states of the United Nations in celebration of International Migrants Day, in recognition of the rights, efforts and invaluable contributions of migrants worldwide.  International Migration has been an integral part of the historical and contemporary experience of most Jamaicans. The new era of migration in the 21st century brings about its...

Jamaica is on track to meet the quantitative performance criteria and indicative targets under the new precautionary standby agreement with the International Monetary Fund (IMF). Co-Chair of the Economic Programme Oversight Committee (EPOC), Keith Duncan, gave assurance that with the positive macroeconomic indicators for the October review period, the country will likely meet the targets for December. “After reviewing the...

Co-Chair of the Economic Programme Oversight Committee (EPOC), Keith Duncan, is confident that the Government’s economic programme under the precautionary standby agreement with the International Monetary Fund (IMF) will be beneficial to ordinary Jamaicans. “What this means for ordinary Jamaicans is that growth is equal to more jobs, greater tax revenues, greater fiscal space... which is more money to spend...

The new Co-Chair of the Economic Programme Oversight Committee (EPOC), Keith Duncan, has hailed the move by the Government to reinstate the body to oversee implementation of the recently signed precautionary standby agreement (PSBA) with the International Monetary Fund (IMF). He noted that the committee is critical in ensuring that the public “has sight of the plan, understands the targets...