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A capital provision of $294.6 million has been made to the Fiscal and Administration Modernisation Programme of the Ministry of Finance, Planning and the Public Service for the 2012/13 financial year. According to the Estimates of Expenditure tabled in the House on May 10, the funds originate from an Inter-American Development Bank loan originally programmed for the period December, 2011...

A sum of $132 million has been earmarked to continue implementation of the Community-Based Landslide Risk Management project. This is contained in the 2012/2013 Estimates of Expenditure, which was tabled by Minister of Finance, Planning and Public Service, Hon. Dr. Peter Phillips on May 10, in the House of Representatives. The project is being implemented by the Office of Disaster...

The gross reserves at the Bank of Jamaica (BoJ), at the end of March 2012, amounted to just over US$2.6 billion, representing some 17 weeks of projected goods and services imports. This was stated by Governor of the Bank of Jamaica, Brian Wynter, during his presentation of the Bank’s Monetary Policy Report for the January to March 2012 quarter. The...

The Bank of Jamaica is projecting that headline inflation will be within the range of 6.0 per cent to 8.0 per cent for 2012/13 financial year, largely similar to the previous fiscal year’s out-turn. This was disclosed by Governor of the Bank of Jamaica (BoJ), Brian Wynter, during his presentation of the Central Bank’s report for the January to March,...

The Government has put forward a budget of $612.4 billion for 2012/13, with $375 billion earmarked for Recurrent (house-keeping) expenses and $237.4 billion for Capital (development) obligations. Details of these projections are included in the Estimates of Expenditure, which were tabled in the House of Representatives on Thursday May 10th by Minister of Finance, Planning and Public Service, Hon. Dr....

Tight expenditure controls, hinged on a firm Tax Reform Programme, will be the hallmark of the government’s fiscal policy as it commences the 2012-2013 financial year. Governor-General, His Excellency, the Most Hon. Sir Patrick Allen, in delivering the Throne Speech on May 10th at the State Opening of Parliament. In his speech entitled, ‘Nation on a Mission’, which outlined the...

A panel discussion and exposition, aimed at sensitising Jamaicans about the role of special libraries in the island, will be held Friday (April 27), at the Planning Institute of Jamaica’s (PIOJ) Oxford Road offices in Kingston. The events, under the theme: ‘Libraries Contributing to National Development’ are organised by the Special Libraries Section of the Library and Information Association of...

Days after the new administration took office on January 5, Minister of Transport, Works and Housing, Hon. Dr. Omar Davies, began his quest to tidy up affairs at that Ministry, particularly as it relates to the Jamaica Development Infrastructure Programme (JDIP). He announced that a forensic audit of the operations of the JDIP, which had been requested under the previous...

Minister of Finance, Planning and the Public Service, Dr. the Hon. Peter Phillips, as the first order of business in the new administration, which took office on January 5, put forward the Government’s position for a new arrangement with the International Monetary Fund (IMF). The preliminary moves  led to the concluded Article IV Consultation in March, and discussions that could...

Agriculture and Fisheries Minister, Hon. Roger Clarke, has urged farmers who want to access loans from financial institutions, to be guided,  so that  the correct decisions can be made that will benefit them. In the same vein, he implored farmers to take the requisite steps to adequately prepare themselves, when seeking to access those loans. The Minister was speaking at...

Minister of Finance and Planning, Hon. Dr. Peter Phillips, said the government will be focused on reducing the debt burden in order to achieve sustained economic growth and foster investment activity. “We want to emphasise that growth is our primary objective and not only are we going to contribute to growth by reducing the appetite of the state for debt,...

Leader of Government Business in the Senate, Hon. A.J. Nicholson, has recommended that regulations will have to be drafted to accompany the proposed legislation for campaign financing. "Looking through the report, it appears to me that regulations would have to be made for the proper implementation of these recommendations," Senator Nicholson said. Mr. Nicholson, who is also Minister of Foreign...