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KINGSTON — A major step towards a strategy critical to discussions with the International Monetary Fund (IMF) on the current Standby Agreement (SBA) was how Financial Secretary, Dr Wesley Hughes, described a two-day Public Sector Monitoring Committee Seminar which opened at the Jamaica Conference Centre, downtown Kingston, on Tuesday September 6. Dr. Hughes reiterated that the last completed IMF review...

KINGSTON — Government is offering food exporters a special loan of $100 million and  general assistance, to bring their operations up to standard to meet the new United States (US) Food and Drug Administration (FDA) requirements, which take effect in January, 2012. Making the announcement at a press conference at the Ministry, in New Kingston, on September 6, Minister of...

Focus will be placed on the vulnerability of migrant domestic workers when a two-day Global Forum on Migration and Development (GFMD) is convened in Jamaica, beginning Wednesday, September 7, 2011 at the Jamaica Conference Centre, under the theme: Domestic Care Workers at the Interface of Migration and Development: Action to Expand Good Practice. Hosted by the Planning Institute of Jamaica...

KINGSTON — The FINSAC Commission of Enquiry is expected to recall former Minister of Finance and Planning, Dr. Omar Davies, when it resumes sitting. This was confirmed Thursday September 1 by the Secretary to the Commission and former Deputy Governor of the Bank of Jamaica, Fernando DePeralto, who indicated in an interview with the Jamaica Information Service (JIS) that the...

Between January and June this year, major crimes in Jamaica (murder, shooting, rape, carnal abuse, robbery, break-ins and larceny) declined by 12.6 percent, compared to the similar period in 2010. One hundred and eighty nine (189) major crimes per 100,000 Jamaicans were committed over the period, down from 216 per 100,000 over the corresponding period in 2010. The murder rate...

KINGSTON — The proposed reformation of  the tax policy and its administration by the Government is expected to significantly enhance the convenience with which business is facilitated, thereby resulting in increased investments and other economic boosting activities by local and foreign interests. Commissioner General, Viralee Bailey Latibeaudiere, of Tax Administration Jamaica (TAJ), which has responsibility for the administration of the...

KINGSTON — The Jamaica Stock Exchange (JSE) widely regarded as a critical barometer of investor confidence, recorded increases in all its indices for the June 2011 quarter, relative to the previous quarter and for the similar period last year. Data contained in the latest Quarterly Monetary Policy Report (QMPR) of the Bank of Jamaica (BoJ) indicated that except for the...

KINGSTON — Country Representative for the Inter American Development Bank (IDB), Ancile Brewster, says that the Government has a good chance of successfully reforming the tax system “We think so, precisely because there is a general consensus that we have to fix it. With waivers, without waivers the growth hasn’t come, the stimulus hasn’t come and we are very interested...

KINGSTON — Governor of the Bank of Jamaica (BOJ), Bryan Wynter, says that the downgrade of the United States' credit rating, and the debt crisis in the Euro area, have increased uncertainty in global financial markets. “There have been wild fluctuations in global stock indices, particularly those of the developed countries,” Mr. Wynter told the Bank of Jamaica’s media briefing...

KINGSTON — The domestic economy is estimated to register real growth in the range of one to two per cent for the June 2011 quarter, Governor of the Bank of Jamaica, Brian Wynter, announced yesterday. He also noted that the Net International Reserve (NIR) was just under US$2.3 billion at the end of June, there was continued stability in the...

KINGSTON — The Jamaican economy, fuelled by strong performances in mining and quarrying, hotels and restaurants, agriculture, forestry and fishing, recorded growth of 1.5 percent during the April to June quarter, the second consecutive period of growth of more than one percent. However, while the Planning Institute of Jamaica (PIOJ) is pleased with the out-turn for the quarter, the institute...

KINGSTON — The Ministry of Finance and the Public Service announced on Wednesday August 10 that a Parliamentary Tax Committee, established in July, will begin reviewing Government's Tax Reform proposals in September. The Ministry said that, delivering on a promise that the process will be all-inclusive and comprehensive the Government will call on all stakeholders, including business and professional organizations,...