The Forum on Markets Innovation and Capital (FOROMIC) conference will be held from October 24 to 26 in Montego Bay, St. James. FOROMIC is a space where business and financial institutions, particularly those working in microfinance and with micro, small, and medium enterprises, are able to showcase innovative products and services. Information Minister, Senator the Hon. Ruel Reid, gave details...

Minister of Finance and the Public Service, Hon. Audley Shaw, is encouraging Pay-As-You-Earn (PAYE) workers, who are taking home more pay as a result of the first phase of increase in the income tax threshold, to spend the money responsibly. He was speaking during yesterday’s (July 26) sitting of the House of Representatives. A total of 251,800 PAYE workers have benefited from...

Commissioner of Customs, Major (Ret’d) Richard Reese, says the Jamaica Customs Agency (JCA) is redoubling its efforts to improve revenue collection by implementing targeted strategies. These, he says, include revamping the JCA’s operations and boosting manpower to better position the agency to work with clients in achieving improved compliance. The JCA’s Chief Executive Officer was addressing a Kiwanis Club of...

The Chinese Government, in collaboration with the Ministry of Finance and the Public Service, has awarded 10 Jamaican students full scholarships to study in China. Official letters of admission to several Chinese Universities were handed over to the students at a handover ceremony on July 22, at the Chinese Embassy, in Kingston. The students will commence studies in September in...

The Government has received a US$100-million loan from the Inter-American Development Bank (IDB), to increase access to financing for firms and individuals as well as improving the regulation and supervision of the country’s financial system. Dubbed the ‘Financial System Reform Support Programme’, the initiative seeks to promote private investment and reduce the cost of, and the perceived level of difficulty...

Prime Minister Andrew Holness yesterday (Wednesday, July 20) hosted a delegation from the International Monetary Fund headed by Mr. Nigel Chalk, Deputy Director of the Western Hemisphere Department, and Ms. Uma Ramakrishnan, Mission Chief for Jamaica. The Prime Minister was joined in the discussions by Minister of Finance, Hon. Audley Shaw, Governor of the Bank of Jamaica, Brian Wynter and...

A team from the International Monetary Fund (IMF) is to arrive in the island on July 20 to discuss an appropriate programme for Jamaica, after the current agreement ends next year. Minister of Finance and the Public Service, Hon. Audley Shaw, made the announcement during a statement to the House of Representatives on Tuesday, July 19. “We are at this time...