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The Government, through the Development of Bank of Jamaica (DBJ), has made some $360 million in loans available for the implementation of energy efficiency and renewable energy projects across various sectors. Minister of Finance and Planning, Dr. the Hon. Peter Phillips, in closing the 2013/2014 Budget Debate on Thursday, May 1, in the House of Representatives, informed that residential customers...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the supply contracts of the Clarendon Alumina Partners Limited (CAP) will be modified to ensure that its obligations will not incur additional costs to the budget, even as it remains operational. Dr. Phillips was making the closing presentation in the 2013/14 Budget Debate in the House of Representatives, on Wednesday,...

The International Monetary Fund (IMF) has approved Jamaica’s application for a four-year Extended Fund Facility (EFF) in the amount of approximately US$958 million. Making the announcement while closing the 2013/14 Budget Debate in Gordon House, on Wednesday, May 1, Minister of Finance and Planning, Dr. the Hon. Peter Phillips, informed that the first drawdown from the IMF of over US$200...

Prime Minister, the Most Hon. Portia Simpson Miller, has emphasised that the International Monetary Fund (IMF) agreement is necessary to facilitate stability and growth of the economy. “If the country is to benefit from this agreement, we must ensure that we meet all our obligations. We are committed to doing so. However, we also know that an IMF agreement on...

Local businesses are being encouraged to attain internationally accepted certification for their management systems right here in Jamaica, through the National Certification Body of Jamaica (NCBJ). The NCBJ, which was established in 2007, is accredited by the National Accreditation Board to offer internationally recognised certification to quality management system and environment management system standards. Manager of the NCBJ, Jacqueline Scott...

MONTEGO BAY: Agriculture and Fisheries Minister, Hon. Roger Clarke, has underscored the pivotal role of Jamaica’s credit union movement in advancing the country’s economic development. Speaking at the St. Elizabeth Cooperative Credit Union Limited’s 37th annual general meeting in Santa Cruz, St. Elizabeth, on Saturday (April 27), Mr. Clarke noted that credit unions have been particularly instrumental in advancing small...

The Ministry of Finance and Planning wishes to advise that the delayed payment of salaries to Teachers, Education Officers and the Police was due to problems experienced in the banking operation at a local bank and not the Central Treasury Management System (CTMS) as was reported in the media. The bank has promised that with the restoration of their system,...

A number of government departments and agencies will be merged this financial year to enable greater cost-efficiency and effectiveness in the public sector. This was disclosed by Finance and Planning Minister, Dr. the Hon. Peter Phillips, during his opening presentation in the 2013/14 Budget Debate in the House of Representatives on April 18. The Minister informed that plans are in...

The Government will begin accepting bids for the construction of integrated resorts under the recently-gazetted Casino Games Regulation 2012, as of June 1. Minister of Finance and Planning, Dr. the Hon. Peter Phillips, made the announcement during his opening presentation in the 2013/14 Budget Debate in the House of Representatives, on April 18. Dr. Phillips informed that the integrated resort...

MONTEGO BAY - Minister of Health, Hon. Dr. Fenton Ferguson, says the consultation on  health financing has begun, with a formal discussion held with the Opposition Spokesman on Health, Dr. Kenneth Baugh, on April 18. "I met with Dr.  Kenneth Baugh, because I believe that Health and Education are two areas that require unity of purpose across the political divide,"...

MONTEGO BAY - Chairman of the Logistics and Investment Task Force in the Ministry of Industry, Investment and Commerce, Dr. Eric Deans, says the Government's Global Logistics Hub Initiative will result in a total transformation of the Jamaican economy within the next five years. He said that investors are ready to pump over US$9 billion in the project, which seeks...

Finance and Planning Minister, Dr. the Hon. Peter Phillips, has expressed confidence that the worst is behind Jamaica as it relates to developments in the economy, which will facilitate the signing of an agreement with the International Monetary Fund (IMF). “Certainly, from my point of view, the most difficult part of the process was in meeting the prior conditions and...