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Prime Minister and Minister of Education, the Hon. Andrew Holness said part of the transformation of the economy has to be done through transforming the education system. He noted that the transformation by his Administration will involve making the education system more efficient and equitable in the coming year. The Prime Minister was speaking at yesterday's sitting of Parliament at the...

KINGSTON — The Bank of Jamaica (BoJ) is attributing the prevailing stable economic conditions to the Government's macro-economic policies, which have slowed inflation and brought stability to the exchange rate. Head of the BoJ’s Research and Economic Programming Division, Dr. Wayne Robinson, points to a significant slowing in the depreciation of the exchange rate to a mere 0.5 per cent...

KINGSTON — Speculation about the date of the next General Election could add to the uncertainties created by the International Monetary Fund's (IMF) delay in reviewing the medium-term economic programme, says Governor of the Bank of Jamaica, Brian Wynter. Mr. Wynter was speaking at a media briefing to present the Monetary Policy Report for the July–September 2011 quarter at the...

KINGSTON — The cost of living pressure is likely to continue to ease during the December 2011 quarter, with inflation projected to be in the range of 1.0 per cent to 2.0 per cent, while economic growth could accelerate during the period. Presenting the latest Quarterly Monetary Policy Report, for the period ending September 30, Governor of the Bank of...

KINGSTON — The Bank of Jamaica's (BoJ) policy rate, which is the interest rate payable on 30-day certificates of deposit, was reduced by 50 basis points to 6.5 per cent at the end of September. BoJ Governor, Brian Wynter, in giving a review of the country's monetary performance for the September 2011 quarter at the Bank's Nethersole Place headquarters downtown...

KINGSTON — The country's Net International Reserves (NIR) remain strong, with the Bank of Jamaica (BoJ) reporting holdings in excess of US$2 billion as at the end of October. The figure of US$2.032 billion, though a reduction of US$48.40 million over the US$2.080 billion recorded at the end of September, represents more than 20 weeks of imports of goods and...

KINGSTON — The Jamaica Confederation of Trade Unions (JCTU) has adopted a joint approach with the Private Sector Organisation of Jamaica (PSOJ) in crafting recommendations to the Jamaica Parliamentary Tax Committee. This was disclosed by President of the JCTU, Lloyd Goodleigh, during his presentation at the second meeting of the Committee, held at the Ministry of Finance and Planning, on...

KINGSTON — The Inter-American Development Bank (IDB) provided funding of more than US$18 billion for Aid for Trade activities in the Central American and Caribbean regions between 2008 and 2010, said IDB Representative in Jamaica, Ancile Brewster. Mr. Brewster, who was speaking at the launch of Jamaica’s Aid for Trade Strategy recently at the Knutsford Court Hotel, New Kingston, said...

KINGSTON — Minister with responsibility for Information and the Public Service, Senator the Hon. Arthur Williams, says that the Government will remain steadfast in resolving the main issues relating to the ongoing discussions with the International Monetary Fund (IMF) on its Standby Agreement. He said that addressing tax reform, public sector pension reform, the sale of Clarendon Alumina Partners (CAP)...

KINGSTON — Despite the present fragility in the global environment, the Jamaican economy will continue to stabilize, while the reforms being undertaken will lay the foundation for sustained growth. This, according to the Governor of the Bank of Jamaica, Brian Wynter, as he addressed the recent economic forum  convened by the Institute of Chartered Accountants of Jamaica, (ICAJ). In a...

KINGSTON — The Caribbean is expected to benefit significantly from financing provided by the Inter-American Development Bank (IDB), following a recent increase in the institution's funding resources, which have moved from US$7 billion to US$12 billion per annum. Representative of the IDB in Jamaica, Ancile Brewster, said regional integration and private sector development in the Caribbean are among the areas...

KINGSTON — The Bank of Jamaica (BOJ), in its latest report on remittances, said that during the month of August, total remittance inflows were US$174.6 million, an improvement of US$17.8 million or 11.4 per cent over the corresponding period last year. Net remittances for the month, after accounting for outflows, were US$148.9 million, which represented an improvement of US$15.0 million...