Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles, has again given the Government positive reviews in its efforts to stabilise the economy and attain growth under the Economic Reform Programme (ERP). Mr. Byles, who was addressing EPOC’s monthly press briefing at the Sagicor Life Jamaica head office, in Kingston, on October 7, presented figures for August and September,...

The Statistical Institute of Jamaica (STATIN) is reporting that the Jamaican economy grew by 1.8 per cent in the second quarter of 2014, when compared to the similar quarter of 2013. This growth also represented a 1.4 per cent improvement over the first quarter of 2014. STATIN says the growth resulted from a 6.3 per cent improvement in output for...

Finance and Planning Minister, Hon. Dr. Peter Phillips, says that passing the International Monetary Fund (IMF) tests creates stability in the Jamaican economy. Passing the tests means that Jamaica is meeting its targets in instituting key economic reforms, enabling the country to drawdown on funds to promote growth and employment. Dr. Phillips, who was speaking in an interview with JIS...

Small and Medium-sized Enterprises (SMEs) in key sectors, are being encouraged to access low interest loans, provided by the Development Bank of Jamaica (DBJ), to finance their operations. These loans are available for agriculture, agro-processing, renewable energy, and manufacturing. The loan funding can be accessed through approved financial institutions (AFIs) such as commercial banks, credit unions, and the National People's...

Member of the National Partnership Council, Professor Alvin Wint, says Jamaica must consolidate the successes made so far on the economic front and in other areas. “I think it is important that we seize this moment. We have had a long period where we have not performed as well as we ought to… although there have been important successes in...

The Executive Board of the International Monetary Fund (IMF) on Wednesday, September 24, completed the fifth review of Jamaica’s economic performance under the Extended Fund Facility (EFF). This follows the successful staff review by the IMF team that visited Jamaica from August 12 to 22. This review now enables an immediate disbursement of US$68.8 million (SDR 45.95 million) to the...

Government has signed a US$50 million Memorandum of Understanding (MoU) with the World Bank, to strengthen the business environment in Jamaica to enable further private sector investment. The loan agreement was signed by Minister of Finance and Planning, Dr. the Hon. Peter Phillips and Senior Private Sector Development Specialist with the World Bank, Thomas Vis, during the launch of the...