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Senior International Monetary Fund (IMF) Representative in Jamaica, Dr. Gene Leon, has commended the Government for displaying the vision to formulate a programme, aimed at resuscitating the country’s economy. Speaking at a Micro, Small and Medium-sized Enterprise (MSME) Alliance public forum at the Petroleum Corporation of Jamaica (PCJ) auditorium, New Kingston, on April 11, Dr. Leon said the programme represented...

The Government is moving to settle a significant percentage of outstanding payments owed by the State on the multibillion dollar Northern Jamaica Development Project. In this regard, $2.28 billion has been earmarked in the 2013/14 Estimates of Expenditure, currently being reviewed by Parliament’s Standing Finance Committee, to execute the undertaking. Just over $2 billion of the amount has been set...

A total of $516.53 million has been allocated to the education sector to facilitate the upgrading and general improvement of the physical infrastructure of schools this fiscal year. The money is being provided by the Government in the 2013/14 Estimates of Expenditure, now before the House of Representatives. Of the amount allocated, $315 million will be used to undertake various...

Jamaica is set to receive some US$200 million more in financial assistance under the International Monetary Fund (IMF) agreement, than initially anticipated. A statement by the lending agency on Monday, April 8, noted Jamaica’s progress in the implementation of the economic programme thus far, and the Government’s efforts to complete the prior actions and structural benchmarks. “On the basis of...

The International Monetary Fund (IMF) has welcomed the progress made by Jamaica in the implementation of prior actions, for an Extended Fund Facility (EFF) agreement with the Fund. “Since the conclusion of a staff-level agreement with the Jamaican authorities in February on an economic programme that can be supported by the Fund, the authorities have submitted documentation to the IMF...

A sum of $7.5 million has been allocated to the Institutional Strengthening of the Planning Institute of Jamaica (PIOJ) III project, as contained in the 2013/2014 Estimates of Expenditure. The project seeks to ensure an effective utilization of the government of Jamaica/European Commission co-operation funds, enabling the work to be performed efficiently and effectively, as stipulated in the Cotonou Agreement....

The Government has allocated some $30 million for the continuation of works under the National Spatial Plan (NSP) project in the 2013/14 Estimates of Expenditure, now before the House of Representatives. The plan will provide the strategic framework to guide urban development and investment decision making. It will also ensure optimal use of the nation’s land resources, and outline the...

The Jamaica Competitiveness Enhancement Programme has received $10 million in the 2013/14 Estimates of Expenditure, which is now before the House of Representatives. The programme is being implemented by the Planning Institute of Jamaica (PIOJ) and is being funded by the Government of Jamaica and the Inter-American Development Bank (IDB). It aims to facilitate economic growth by improving the competitiveness...

A sum of $8.5 million has been allotted to the Civil Registration and Vital Statistics Systems Modernisation Programme, in the 2013/2014 Estimates of Expenditure. The project aims to enable Jamaica to modernize its vital statistics and civil registration system. Project activities are designed to improve inter-agency co-ordination and communication, data collection, processing and management, and resource strengthening. In addition, the...

The Ministry of Finance and Planning wishes to announce the appointments of Mr. Colin Bullock as the new Director General of the PIanning Institute of Jamaica (PIOJ); Miss Carol Coy as the new Director General at the Statistical Institute of Jamaica (STATIN) and Mr. Everton McFarlane who will be assigned to the Ministry of Finance and Planning. Mr. Colin Bullock,...

The International Monetary Fund (IMF) on Monday, April 8, issued a statement that the Executive Board is expected to meet to consider Jamaica’s 48-month arrangement under the Extended Fund Facility (EFF), by the end of April. The following is the statement issued by the IMF: “Since the conclusion of a staff-level agreement with the Jamaican authorities in February on an...

The Government is to continue initiatives under its Fiscal Administration Modernisation Programme, through a $700 million allocation in the 2013/2014 Estimates of Expenditure. The project, implemented in December 2011, aims to support the Government of Jamaica in achieving a sustainable fiscal position by strengthening the Ministry of Finance and Planning’s institutional capacity to effectively improve customs, inland tax collections, and...