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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...

Financial Secretary, Ministry of Finance and Planning, Dr. Wesley Hughes, has underscored the need for inclusiveness in the implementation of the National Development Plan, Vision 2030 Jamaica, to ensure the country’s timely and sustainable progression towards developed country status within 18 years. He warns that failure to include all stakeholders, whom the plan will impact, could derail the efforts towards...

Minister of Finance and Planning, Hon. Dr. Peter Phillips, is advocating adoption of the Build Own Lease (BOL) model in financing critical infrastructure and development projects locally. He said the model is a creative innovation being practised in developed and developing countries and should be used for projects in Jamaica. “It is an example of the kind of creativity that...

Financial Secretary, Dr. Wesley Hughes, has underscored the need for citizens to pay their taxes and for these resources to be prudently managed, in ensuring attainment of the goals and provisions of the country’s National Development Plan, Vision 2030 Jamaica. The fulfillment of statutory obligations by the citizenry, he argued, as well as fiscal prudence at the administrative level, will...

More than 150 stakeholders will, over the next two days, participate in a country assessment and national prioritisation workshop on the National Development Plan, Vision 2030 Jamaica. The participants include members of the public and private sectors, civil society, academia and the international development community. Slated for the Knutsford Court Hotel, New Kingston from April 11 to 12, the forum...

The World Bank has proposed a pension model for Jamaica, which includes a gradual increase in the retirement age; the use of the average final five years instead of the final salary as a base for calculating benefits; and the introduction of automatic indexation to preserve the value of the pension throughout retirement. Details of the model were recently submitted...

The 2012/13 Estimates of Expenditure will be tabled in the House of Representatives on May 10, Information Minister, Senator the Hon. Sandrea Falconer, disclosed on April 4, at  the Jamaica House press briefing, held at the Office of the Prime Minister. The decision was made at the recently concluded two-day Cabinet retreat, where Ministers considered the medium term economic programme,...

Minister of Education, Rev. the Hon. Ronald Thwaites, is urging students, who benefitted from the Financial Education in Schools programme, to used the knowledge gained to save and become more financially empowered for the future. “I am encouraging you, who have the learning and understanding now as a result of your exposure, to save as part of your enablement for...

The Estimates of Expenditure for the 2012/13 financial year will be tabled in May, 2012. This was disclosed by Minister of Finance and Planning, Hon. Dr. Peter Phillips on Wednesday March 28, during the meeting of the Special Committee on Tax Reform held at Gordon House. “The budget is going to be delayed because of the change in administration and...