Head of the International Monetary Fund (IMF) Staff Mission Team to Jamaica, Dr. Uma Ramakrishnan, has welcomed the Government’s implementation of the amended personal income tax threshold, describing it as a “bold step” in restructuring the revenue regime. Phased implementation of the new regime, which commences on July 1, will see the threshold increase to $1.5 million by the start...

The Government is expected to commence negotiations for public sector salaries for the 2017/19 contract period later this year. This was announced by Finance and Public Service Minister, Hon. Audley Shaw, who said the administration aims to ensure that salaries remain “consistent and in line with our targets of wage to the gross domestic product (GDP).” “The government remains committed...

Jamaica was the largest beneficiary of the US$4.8 billion in approved loans and grants disbursed by the CDB between 1970 and 2015, having received US$781 million or 16.4 per cent of the sum. President of the Bank, Dr. Warren Smith, tells JIS News that the allocation funded projects in micro, small and medium-size enterprises (MSMEs); social infrastructure; environmental sustainability/disaster risk...

Regional heads and other dignitaries attending the Caribbean Development Bank’s (CDB) 46th annual Board of Governors meeting in Montego Bay, St. James, are hailing the Government and people of Jamaica for the high level of preparation and warm reception. The weeklong meeting, which started on May 16 and ends with a tour of attractions in St. Ann on May 20,...

Chief Executive Officer of United Nations (UN) Sustainable Energy for All, Rachel Kyte, says her organisation is ready to partner with Caribbean governments and institutions in securing a clean, affordable and reliable energy future. She was delivering the William G. Demas Memorial Lecture at the Caribbean Development Bank’s (CDB) 46th Annual Board of Governors Meeting at the Iberostar Resort in...

Minister of Finance and the Public Service, Hon. Audley Shaw, is emphasising the importance of partnerships between the public and private sectors for the economic growth and prosperity of the countries in the region. Such collaboration, he said, is particularly critical in undertaking structural and sectoral reforms in a challenging fiscal environment. “When we have to undertake tough reforms, which...

Minister of Finance and the Public Service, Hon. Audley Shaw, says he is satisfied with the discussions and outcomes of the 46th annual meeting of the Board of Governors of the Caribbean Development Bank (CDB), which ended today (May 19).             Addressing the closing press conference at  the Montego Bay Convention Centre, in St. James,  said participants were involved in...