Fitch Ratings (London): Jamaica's achievement in hitting fiscal targets is considerable given the background of persistent economic weakness and revenue underperformance, Fitch Ratings says. Political consensus remains in favour of structural adjustments through the country's IMF programme, but sustained fiscal consolidation will be challenging if there is growth underperformance or reform fatigue. The achievement of quantitative targets in the first...

Minister with Responsibility for the Public Service in the Ministry of Finance and Planning (MOFP), the Hon. Horace Dalley, has assured workers employed under the South East Regional Health Authority (SERHA) that immediate steps will be taken to resolve the outstanding issues relating to the non-remittal of salary deductions. Minister Dalley made the disclosure on Friday, May 1, at a...

The Passport, Immigration and Citizenship Agency (PICA) and Statistical Institute of Jamaica (STATIN) have signed a Memorandum of Understanding (MoU) that will see both entities sharing data, under an inter-agency collaboration arrangement. The MoU will enable easier monthly transfer of data from PICA to STATIN in relation to the annual count of all persons arriving in and departing the island...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips, on Wednesday, April 29, announced two new revenue measures to raise $2.3 billion. The Government has removed the introduction of a levy on deposit-taking institutions and encashments from securities dealers, which was previously announced by Dr. Phillips on April 17. The new measures include the introduction of a withholding tax on insurance premiums paid...

The Department of Cooperatives and Friendly Societies (DCFS) is encouraging all charities to keep good financial records to ensure smooth transition when they are to be re-registered. Following the passage of the Omnibus legislation in December, the Government mandated the DCFS as the authority to oversee the activities of all charities. In the past, the Department was responsible for regulating...

Minister of Finance and Planning, Dr. the Hon. Peter Phillips has called on the private sector to contribute to the economic development and social empowerment of marginalised communities, particularly through the Community Renewal Programme (CRP). Being implemented by the Planning Institute of Jamaica (PIOJ), the CRP is a multifaceted programme, financed by the Government of Jamaica and international development partners....

The following is a press release issued from the Ministry of Finance and Planning: This morning whilst addressing a meeting with a number of trade union leaders Minister Phillips indicated that he will be conducting a review of the announced revenue measures and will shortly announce if any adjustments will be made. He informed the meeting, however, that the basic...