Finance and Public Service Minister, Hon. Audley Shaw, has expressed the Government’s heartfelt gratitude for the European Union’s (EU) continued relationship and ongoing support. Noting that organization’s inputs have been consistent, Mr. Shaw says the EU has “proactively” sought to channel its support to Jamaica’s development objectives, and that its provisions have been aligned with the country’s long-term National Development...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the interest rate on the special microloan disbursed by the Development Bank of Jamaica (DBJ) has been reduced to six per cent from 10.5 per cent. The more than $1-billion credit line, which is backed by the World Bank, is available for small and medium enterprises to undertake expansion...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the Jamaican dollar is experiencing a revaluation, due to the Working Group that he established to monitor the foreign exchange market. In late November, the Minister informed Parliament that he had established a stakeholder group of mainly persons in the financial sector to work with the Bank of Jamaica...

The House of Representatives approved two Bills on December 6 that will establish a regulatory framework to attract and support investment in Jamaica’s horse-racing industry and facilitate the development of Caymanas Track into a modern world-class racing complex. The Bills – Betting, Gaming and Lotteries (Amendment) Act and the Jamaica Racing Commission (Amendment) Act – were piloted by Minister of...

Minister of State in the Ministry of Finance and the Public Service, Hon. Fayval Williams, says public procurement is a viable means of stimulating sustained economic growth and development. Mrs. Williams was speaking at the opening of the 12th Inter-American Network on Government Procurement (INGP) conference, at the Montego Bay Convention Centre in St. James, on November 29. The State...

Prime Minister, the Most Hon. Andrew Holness, has announced that a new Economic Programme Oversight Committee (EPOC) has been formed to oversee the implementation of the Government’s new standby arrangement with the International Monetary Fund (IMF). The renewed EPOC will be chaired by Group Chief Executive Officer of Jamaica Money Market Brokers, Keith Duncan, and co-chaired by Governor of the...

Minister of State in the Ministry of Finance and the Public Service, Hon. Fayval Williams, says the Government remains steadfast in its resolve to make public-sector transformation a reality. “There should be no doubt in anyone's mind that this Government is serious about public-sector transformation. Several bold steps have already been taken. The formation of an Economic Growth Council and...