Planning Institute of Jamaica (PIOJ) Director General, Colin Bullock, says the short-term prospects for the Jamaican economy are positive. The bright outlook, he says, is based on the strengthening of productive activities in most industries. The projects, which are expected to spur growth of between 1.0 per cent and 2.0 per cent for the July to September quarter, include the continuation...

The Bank of Jamaica (BoJ) is forecasting that the country will record growth of between 1.0 and 2.0 per cent for the 2015/16 fiscal year. Speaking at the Bank’s quarterly media briefing at the BoJ Auditorium, downtown Kingston on Wednesday (August 26), Governor, BOJ, Brian Wynter said while the current growth rate is “slower than we were hoping for,” it...

Bank of Jamaica (BoJ) Governor, Brian Wynter, says the country’s Net International Reserves (NIRs) continue to grow, reaching just over US$2 billion at the end of the April to June quarter. Speaking at the Bank’s quarterly media briefing, at the BoJ auditorium, downtown Kingston, on Wednesday (August 27), Mr. Wynter credited the strong NIR to improvements in net private capital...

Minister of Finance and Planning, Hon. Dr. Peter Phillips, says several pieces of legislation have been passed to ensure that more persons comply with the law and pay their taxes. “Our basic policy is to lower the rate and broaden the base,” Dr. Phillips said, during the question and answer segment of a forum, dubbed: ‘Money Talk Hackathon’, held at...

Jamaica is on course for a ninth drawdown of funds from the International Monetary Fund (IMF). This is based on the country’s positive performance for the first quarter of the fiscal year under the Extended Fund Facility (EFF), despite the effects of severe drought. Head of the IMF Mission to Jamaica, Dr. Uma Ramakrishnan, said the country has met all...

The country is undergoing a comprehensive Public Financial Management (PFM) reform, aimed at modernising its public financial management and administrative systems. This should result in a more efficient and effective use of funds to deliver services to the public. Director General of the Public Financial Management Secretariat in the Ministry of Finance and Planning, Diane McIntosh, tells JIS News that...

The decision by the Government to transition the Accountant General’s Department (AGD) into a modern treasury management system is already reaping benefits. Director General of the Public Financial Management Secretariat in the Ministry of Finance and Planning, Diane McIntosh, said with the reform process, which rolled out in June, the AGD is now in charge of central cash management and...