In keeping with the Government’s growth strategy, the Development Bank of Jamaica (DBJ), is vigorously  addressing the issue of access to financing for small entrepreneurs. General Manager for the Strategic Services Division at the bank, Claudine Tracey, told a recent JIS ‘Think Tank’ that the DBJ has taken a systematic approach to addressing the issue.  She said the DBJ has...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the country stands to benefit from several opportunities, resulting from devaluation of the Jamaican dollar. Speaking at the recent monthly meeting of the Rotary Club of New Kingston at Chasers Café, St. Andrew, Dr. Phillips said there is potential for a “whole range of investment activity”, which was not previously...

The Planning Institute of Jamaica (PIOJ), through its Growth Secretariat, has partnered with the Development Bank of Jamaica (DBJ) to undertake an initiative aimed at resolving challenges businesses experience in accessing financing. Dubbed ‘Financial Information and Real-time Matchmaking’ (FIRM), the initiative will target the creation of an educational, financing, and networking platform, designed to provide market access to entities at...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, has underscored the need for “certain adjustments” in how government functions in order to enhance the country’s competitiveness. These adjustments, he said, are also imperative in ensuring that Jamaica secures maximum benefits from implementation of the more “complex” aspects of the Economic Reform Programme (ERP). “We need to ensure that institutions...

The Development Bank of Jamaica (DBJ) approved over 9,700 loan applications, valued at $2.3 billion for the micro, small and medium-sized enterprises (MSME) sector during the last fiscal year. This was disclosed by General Manager of Strategic Services at DBJ, Claudine Tracey, during the launch of the Financial Information and Real-time Matchmaking (FIRM) expo on August 14 at the Jamaica...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says implementation of the Economic Reform Programme (ERP) continues to yield positive and significant outcomes for Jamaica. Speaking at the Rotary Club of New Kingston’s weekly meeting, held at Chasers Café, Belmont Road, in St. Andrew, on August 15, Dr. Phillips said these successes include declining unemployment; increased infrastructural development; prospects...

Jamaica Customs Agency has launched a major, technology-driven system, aimed at streamlining and reducing the processes involved in cross-border import, export, and transshipment of goods. The Automated System for Customs Data (ASYCUDA), which is being implemented at a cost of US$4 million, is expected to speed up operations at the ports by fully automating export and import transactions. It allows...

Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, says Jamaica surpassed all the critical targets under the Extended Fund Facility with the International Monetary Fund (IMF), at the end of the first quarter of the current fiscal year. Mr. Byles, who was addressing the EPOC’s monthly press briefing on August 14, reported significant performance in the country’s primary...

Tax Administration Jamaica (TAJ) is to begin paying Income Tax refunds directly into bank accounts, instead of making payments by cheques. The TAJ says an Electronic Funds Transfer (EFT) Project is now being piloted to accommodate this change. Beginning August 2014, individuals claiming a PAYE Income Tax refund, including pensioners, will be required to submit their banking details in order...