The Bank of Jamaica (BOJ) has signalled to commercial banks and other deposit-taking institutions (DTIs) that interest rates are on a downward path. For the first time since October 2022, the BOJ’s Monetary Policy Committee (MPC) has decided to cautiously ease its monetary policy stance. Effective Wednesday (August 21), the Central Bank’s indicative policy interest rate was reduced by 25...

Bank of Jamaica’s (BOJ’s) Monetary Policy Committee (MPC), at its meetings on 16 and 19 August 2024, assessed that the prevailing economic environment is conducive to a further cautious easing of its monetary policy stance and unanimously agreed to: (i) reduce the policy rate by 25 basis points (bps) to 6.75 per cent per annum, effective Wednesday, 21 August 2024;...

The Betting, Gaming and Lotteries Commission (BGLC) is accepting applications for its Tertiary Education Grant, for the 2024/2025 academic year. The grant is available to full-time third or fourth-year undergraduates who are enrolled at an accredited local tertiary institution and have a grade point average (GPA) of at least 3.0. Forty successful applicants will receive $100,000 each towards their tuition....

The Ministry of Justice is the winner of the 2024 Public Sector Debate Competition. The five-member team defeated the Administrator-General’s Department (AGD) at the finals held on Wednesday (August 7) at The Jamaica Pegasus hotel in New Kingston, walking away with the champion’s trophy and prizes valued at more than $800,000, including a $500,000 cash prize and individual trophies. Each...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke (right), emphasises a point during a courtesy call by President, Japan International Cooperation Agency (JICA), Dr. Akihiko Tanaka, at the Ministry’s office in Kingston on Wednesday (July 31).

The Government has signed a Memorandum of Cooperation (MOC) with the Japan International Cooperation Agency (JICA) to promote collaboration in the areas of disaster risk management, climate change, security and economic development. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, and JICA President, Dr. Akihiko Tanaka, signed the agreement at the Ministry’s National Heroes Circle offices...

As part of efforts to increase the use of renewables in the country, the Government is providing income-tax credit to individuals who acquire and install a solar photovoltaic system at their primary place of residence. The Senate, on Friday (July 26), approved the Income Tax (Amendment) Act, 2024, which sets out the appropriate legal framework that will allow individuals to...

Minister of Legal and Constitutional Affairs, Hon. Marlene Malahoo Forte, greets United Nations Resident Coordinator in Jamaica, Dennis Zulu (left), during his courtesy call at Jamaica House on Wednesday (July 24). Also pictured is Permanent Secretary in the Ministry, Wayne Robertson. 

Pensioners in need of financial assistance can benefit from a one-off payment of $150,000 under the Pension Relief Fund. The Fund, which is managed b by the Ministry of Finance and the Public Service, is designed to provide additional support to retired individuals who are in receipt of a pension or receive gratuity from the Accountant General’s Department. Manager of...