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Minister of Finance and the Public Service, Hon. Audley Shaw says that progressive reduction in public sector demand will eliminate a significant portion of the current premium in the country's interest rates that is related to macro economic uncertainty and government defaulting on its loans. "In short, the productive sectors of the economy will be able to finance working capital...

Minister of Finance and the Public Service, Hon. Audley Shaw, says that the fallout that resulted from the collapse of unregulated financial schemes provides compelling evidence of the need to educate the investing population. He was speaking at a literacy forum hosted by the Financial Services Commission (FSC) at the Jamaica Pegasus Hotel, New Kingston, Wednesday (August 18). Mr. Shaw...

Government will be instituting gradual changes at the Students' Loan Bureau (SLB), to enable students easier access to loans. This was stated by Minister of Education, Hon. Andrew Holness, while addressing tertiary level students at a rap session, held at Marley Beach, in St. Mary, on August 15. Mr. Holness pointed out that government is currently paying 80 per cent...

To address the issue of competitiveness, the Bank of Jamaica (BoJ) says it may be necessary to undertake "reforms to improve the business environment that will enhance productivity and allocate resources to more dynamic sectors." The recommendation is contained in a special feature entitled, 'Exchange Rates and External Price Competitiveness', in the recently released Quarterly Monetary Policy Report (QMPR) by...

The Government today (August 13) received grant funding totaling more than $92 million from the Inter-American Development Bank (IDB), to be used to strengthen social intervention initiatives. Of the sum, $38.7 million (US$450,000) is for the modernisation of the School Feeding Programme, while the majority share of $53.3 million (US$620,000) will go towards a technical cooperation agreement, which will assist...

The Jamaican export sector continues to perform well, despite economic challenges, particularly non-traditional domestic products and foods which earned $15 billion (US$173.7 million) during the first quarter of this year. Jamaica Exporters Association (JEA) President, Vitus Evans, said that the revenues were approximately $6 billion more than that for the corresponding period last year, based on data from the Statistical...

Minister of Finance and the Public Service, Hon. Audley Shaw, said that the new tax waiver/incentive policy to be formulated will place emphasis on growth and will lay out the red carpet for investors committed to creating jobs for Jamaicans. "Anyone and any company, which is committed to investing, producing and creating jobs, a red carpet will be laid out...

Bank of Jamaica (BoJ) Governor, Brian Wynter, has confirmed that the 2.6 per cent inflation recorded for the quarter ending June 2010, was well below the 4.1 per cent for the previous March quarter, as well as falling behind the 3.5 per cent average for the five previous June quarters. Mr. Wynter said that inflation during the quarter was largely...

Senior International Monetary Fund (IMF) Resident Representative in Jamaica, Dr. Gene Leon, said that the appreciation of the Jamaican dollar offers significant long- term benefits for business interests, Government and the country on the whole. Speaking at the Jamaica Exporters' Association (JEA) Breakfast Forum on Wednesday (Aug. 11) at the Jamaica Pegasus Hotel, New Kingston, Dr. Leon cited concerns by...

The Jamaican dollar experienced its sharpest quarterly appreciation since the June quarter of 1996, strengthening by 4.1 per cent for the just ended quarter. "The strongest appreciation occurred in June when the exchange rate strengthened by 2.9 per cent or $2.46, influenced largely by increased investor preference for Jamaican dollar assets. The preference for Jamaican dollar assets was reflected in...

Minister of Finance and the Public Service, Hon. Audley Shaw has accepted the resignation of Chairman of the Student Loan Bureau (SLB), Andrew Cocking, and other members of the Board. This follows a meeting with members of the Board, today (August 11), during which the audit report submitted by the Public Accountability Inspectorate Division on the operations of the SLB...

Senior International Monetary Fund (IMF) Resident Representative in Jamaica, Dr. Gene Leon, says there are positive signs that Jamaica is beginning to rebound from the impact of the global economic recession. Speaking at the Jamaica Exporters' Association (JEA) breakfast forum at the Jamaica Pegasus Hotel, New Kingston, today (August 11), Dr. Leon cited the "upward trajectory" in growth, which Jamaica's...