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Youth Ministry Stages ‘Money Talk Hackathon’

The Ministry of Youth and Culture will be hosting a special forum aimed at fostering greater participation and inclusion of the country’s youth in matters pertaining to the economy. The event, dubbed: ‘Money Talk Hackathon’ will be held on Wednesday,...

Minister of Finance and Planning, Hon. Dr. Peter Phillips (left), fields questions during a press conference on Friday (August 21), at his Kingston office, to announce the completion of the International Monetary Fund’s (IMF) 9th review of Jamaica’s four-year Extended Fund Facility (EFF). Others from (2nd left) are: Head of the IMF Mission to Jamaica, Dr. Uma Ramakrishnan; Outgoing Head of the IMF Mission to Jamaica, Dr. Bert Van Selm; and Governor of the Bank of Jamaica, Bryan Wynter.

Jamaica on Course For 9th Drawdown of Funds From IMF

Director General of the Public Financial Management Secretariat in the Ministry of Finance and Planning, Diane McIntosh (left), explains the need for transformation of the country’s public financial management systems, at a JIS ‘Think Tank’ on August 20. At right is Director of Strategic Organisational Development in the Ministry of Finance and Planning, Trudy-Ann James-Linton.

Comprehensive Public Financial Management Reform in Progress

Director General of the Public Financial Management Secretariat in the Ministry of Finance and Planning, Diane McIntosh, says transitioning of the Accountant General’s Department (AGD) into a central treasury management system, is reaping benefits for the country. She was addressing a JIS Think Tank on Thursday, August 20.

Govt Reaping Benefits from Modern Treasury Management System

Principal of the Four Paths Primary and Junior High School in Clarendon , Norman Ansel Allen (right), is installed as the 51st President of the Jamaica Teachers Association (JTA), during Monday night’s (17) session of the JTA’s annual conference, now underway at the Hilton Rose Hall Resort and Spa in Montego Bay St. James. Outgoing President, Doran Dixon, officiated the function.

Teachers Vote to Accept Government’s Wage Offer

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11 years ago Finance & Public Service

Bank of Jamaica Reduces Benchmark Interest Rate

Bank of Jamaica announces that with effect from 18 August 2015, the rate offered on its benchmark 30-day Certificate of Deposit will be reduced to 5.25 per cent from 5.50 per cent. Macroeconomic vulnerabilities continue to be reduced in the context of the strong implementation of reforms under the Economic Reform Programme. Annual inflation is expected to be within the...

Project Director, Strategic Public Sector Transformation Project, Ministry of Finance and Planning, Dunstan Bryan (standing), shows Acting Financial Secretary, Everton McFarlane (second left), where to sign the document for implementation of the US$388,967 Medium Term Results Based Budgeting (MTRBB) pilot programme. The signing ceremony was held on Friday (August 14) at the Finance Ministry in Kingston. Others (from left) are: Deputy Financial Secretary, Public Expenditure Division, Lorris Jarrett; Director, Deloitte Overseas Consulting LLP, Michael Vlaisavljevich; and Department for International Development (DFID) Representative in Jamaica, Bhavna Sharma.

11 years ago Finance & Public Service

Gov’t Pursues Results-Based Budgeting

The Government of Jamaica is undertaking a US$388, 967 pilot project aimed at reforming the budget preparation process and to better align spending with anticipated results. The objective is to link budgeting with Government policy priorities through a gradual transition from annual expenditure planning to a medium-term results-based expenditure framework. This will improve accountability and ensure a more efficient and...

Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, says the recent PetroCaribe debt buy-back transaction was a significant move by the Jamaican government. He was speaking with journalists at the EPOC’s monthly press briefing on August 13, in Kingston.

11 years ago Finance & Public Service

US$2 Billion Raised By Government Will Result In Significant Benefits – EPOC Co-Chair

Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, says the recent move by the Government in raising US$2 billion of bonds on the international financial markets, will have significant benefits for the country, its debt stock and financial position going forward. The funds were raised on July 23, 2015 in two tranches of US$650 million over 30 years,...

Minister of Finance and Planning, Hon. Dr. Peter Phillips (centre), makes a point to President of the Private Sector Organization of Jamaica (PSOJ), William Mahfood (left), while Chairman of the Victoria Mutual Building Society (VMBS), Michael McMorris, looks on. Occasion was VMBS’ inaugural economic forum held on August 12, at the Terra Nova Hotel in St. Andrew.

11 years ago Finance & Public Service

BPO Sector Can Transform Employment Landscape – Dr. Phillips

Minister of Finance and Planning, Dr. the Hon. Peter Philips said the Business Process Outsourcing (BPO) represents a fundamental opportunity to transform the country’s employment landscape over a relatively short time period. He noted that the industry has been on a steady growth path, and the Government has developed a five-year strategic plan for the sector, which will see thousands...

Prime Minister the Most Hon. Portia Simpson Miller (third left), affixes her signature to the new Heads of Agreement, which was signed between the Government and representatives of the Jamaica Confederation of Trade Unions, during a ceremony at the Office of the Prime Minister (OPM) on August 11. Also signing (from left) are: Vice President, Jamaica Confederation of Trade Unions, Helene Davis Whyte; Minister of Finance and Planning, Dr. the Hon. Peter Phillips; and President of the Jamaica Civil Service Association, O’neil Grant. Pictured in the background (from left) are: Manager, Public Relations, Special Projects and Community Outreach, OPM, Shelly-Ann Harris; and Finance and Planning Ministry officials - Director, Industrial Relations, Lorna A. Phillips; Acting Financial Secretary, Everton McFarlane; Senior Industrial Relations Officer, Charmaine Hayman; and Deputy Financial Secretary, Wayne Jones. The new wage agreement, which is for the contract period 2015 to 2017, will see public sector employees receiving a salary increase of seven per cent over two years.

11 years ago Finance & Public Service

Improved Benefits for Public Sector Workers

Civil Servants are to receive several improved benefits under the new wage agreement for the 2015 to 2017 contract period. This is in addition to the fixed figure increase of $48,000 to annual salaries across the public service, which will see each worker getting $4,000 per month. The Supper/Meal allowance has moved from $550 per occasion to $700 per occasion,...

Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, outlines the performance of key indicators under the country’s four-year extended fund facility with the International Monetary Fund (IMF), during a press briefing on Thursday, August 13. (File)

11 years ago Finance & Public Service

Jamaica On Course to Pass 9th Consecutive IMF Test

Jamaica is on course to pass its 9th consecutive review under the Extended Fund Facility (EFF) with the International Monetary Fund (IMF). This, after successfully surpassing all the key economic targets set by the IMF for the April to June quarter. A team from the IMF is currently in the island reviewing the country’s performance for the quarter under the...

Prime Minister the Most Hon. Portia Simpson Miller (third left), affixes her signature to the new Heads of Agreement, which was signed between the Government and representatives of the Jamaica Confederation of Trade Unions, during a ceremony at the Office of the Prime Minister (OPM) on August 11. Also signing (from left) are: Vice President, Jamaica Confederation of Trade Unions, Helene Davis Whyte; Minister of Finance and Planning, Dr. the Hon. Peter Phillips; and President of the Jamaica Civil Service Association, O’neil Grant. Pictured in the background (from left) are: Manager, Public Relations, Special Projects and Community Outreach, OPM, Shelly-Ann Harris; and Finance and Planning Ministry officials - Director, Industrial Relations, Lorna A. Phillips; Acting Financial Secretary, Everton McFarlane; Senior Industrial Relations Officer, Charmaine Hayman; and Deputy Financial Secretary, Wayne Jones. The new wage agreement, which is for the contract period 2015 to 2017, will see public sector employees receiving a salary increase of seven per cent over two years.

11 years ago Finance & Public Service

Tertiary Education Grants Included in Wage Settlement With Public Sector Workers

A $45 million fund for tertiary education grants is to be established for children of public sector workers, under the newly negotiated wage agreement for the 2015 to 2017 contract period. This provision is among a number of benefits that will accrue to Government employees under the new contract which will see them receiving a salary increase of seven per...