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The equities (stock) market will be supported as a critical element in the Government's drive to stimulate investments and promote the private sector as the engine of economic growth and development. This was stated by Minister of Finance, Planning and the Public Service, Hon. Dr Peter Phillips, as he addressed the Jamaica Stock Exchange’s (JSE) 7th Regional Investments and Capital...

Minister without Portfolio in the Ministry of Finance, Planning and the Public Service, Hon. Horace Dalley, says the Government is committed to creating equality among clients of the Customs department. “The same treatment that is given to (large companies)…must be given to that little woman who is pulling those four boxes through to feed 40 mouths. The playing field must...

Minister of Finance, Planning and the Public Service, Hon. Dr. Peter Phillips, has called on the private sector to be more pro-active in acquiring domestic assets,  particularly  public entities earmarked for divestment. Addressing the Private Sector Organisation of Jamaica (PSOJ) Chairman’s Club Forum, at the Jamaica Pegasus Hotel, in Kingston, Tuesday Jan. 24, the Minister advised private sector leaders and...

The just concluded five-day preliminary talks between the Government and the International Monetary Fund (IMF) have resulted in greater understanding of the priorities of the administration, and provided an updated assessment of the country’s current economic position, setting the stage for early negotiations of a new Fund programme. This was stated by Finance, Planning and the Public Service Minister, Hon....

The key sectors to be targeted for the generation of significant growth of the Jamaican economy are: energy; tourism; information and communications technology (ICT); micro, small and medium enterprises (MSME); divestment of public assets through the Jamaica Stock Exchange (JSE); the revitalization of foreign direct investment inflows, improved business facilitation and the revamping the incentives regime. This was stated by...

Sanctions should be imposed for deliberate breaches of fiscal responsibility resulting from ministerial action. Minister of Finance, Planning and the Public Service, Dr. the Hon. Peter Phillips, made the call during his first major presentation since being appointed to the ministry in the new administration.  Addressing investors at the Mayberry Investment Forum in Kingston on Wednesday (January 18), the Minister...

With just over two months to the beginning of the 2012/13 financial year, a Supplementary Budget will be presented to reflect a downward revision in public expenditure. This was announced by Minister of Finance, Planning and the Public Service, Hon. Dr. Peter Phillips, when he addressed the Mayberry Investment Forum, at the Knutsford Court Hotel in Kingston, on January 18....

Minister of Finance, Planning and the Public Service while calming fears that  the new administration might implement policies which will generate high interest rates, advises that banks need to assist in taking active steps to contain their costs, increase their efficiencies and so contain the growth in their spreads. According to the Finance Minister, the first aspect of the way...

The Government has started preliminary talks with the International Monetary Fund (IMF), in preparation for a fuller negotiation. This was disclosed by Minister of Finance, Planning and the Public Service, Hon. Dr. Peter Phillips, in an address to the Mayberry Investment Forum at the Knutsford Court Hotel, in Kingston, on  January 18. Speaking on the theme: 'Jamaica's next 50 years:...

The latest data released by the Statistical Institute of Jamaica (STATIN) indicates that the inflation rate for the calendar year 2011 was six per cent, the lowest for the previous five years. The achievement of this relatively modest price movement compares to an 11.7 per cent turn-out in 2010. For the fiscal year-to-date, the inflation rate was 5.5 per cent,...

With an ever increasing demand to assist students to fund their tertiary studies each year, the Students Loan Bureau (SLB) continues to work assiduously to ensure that Jamaicans access the highest levels of education, in preparation for the local and international job markets. Executive Director of the SLB, Monica Brown, explains to JIS News that the demand for loans was...

The Bank of Jamaica (BoJ) has indicated that most of the currency issued during December 2011 will be redeemed during January 2012. The seasonal spike of money in circulation in December reflected the heightened consumer demand for cash to satisfy Christmas shopping. Data from the Central Bank indicate that for December 2011, there was a net increase of $10.4 billion...