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With the passage of Tropical Storm Nicole and the resulting infrastructural damage, a large percentage of the island's labour force have had to remain at home. As such, the Ministry of Finance and the Public Service is reminding public servants that in the circumstances resulting in absenteeism from work during the inclement weather, persons are guided by Circular No. 23,...

Minister of Education, Hon. Andrew Holness, says the Government may have to consider channeling more funds into the Students' Loan Bureau (SLB), if the institution is to support the growing demand for tertiary education. Speaking at the Jamaica Chamber of Commerce's (JCC) monthly meeting at the Knutsford Court Hotel, New Kingston, recently, Mr. Holness pointed out that the demand for...

World Bank representatives have expressed confidence that Jamaica will be able to fix many of its macroeconomic problems, after the Fiscal Responsibility Framework (FRF) is fully implemented. "If this Fiscal Responsibility Framework is implemented, it will transform the way public resources are spent and perhaps the large budget deficits will be behind us in Jamaica," says World Bank Lead Economist...

The World Bank has commended the Government's efforts to overcome the global recession and stabilise the economy, noting that the country must now look towards growth and development. "Now that the Government has established a more stable macro framework, the private sector and the people will see the difference in the country," said World Bank Lead Economist and Sector Leader...

The Export Import Bank of Jamaica (EXIM Bank) Limited is rolling out its new strategic plan, backed by an injection of some US$6 million from the PetroCaribe Arrangement and another US$23 million from the Inter-American Development Bank (IDB). This to realise its target of some $6.6 billion in loans to the productive sector by the end of the 2010/11 financial...

Over $143 million is to be spent over the next nine months rehabilitating 18 roads in five rural parishes, under phase two of the European Union's FLEX Programme. The contracts were signed Thursday (September 16), at the Department of Local Government, Hagley Park Road, Kingston. Approximately 10 kilometres of roadway will be rehabilitated in Hanover, St. James, Trelawny, St. Ann...

The Export -Import (Ex-Im) Bank has dropped its lending rates to between 10 to 11.5 per cent for Jamaican dollar loans and 7.5 to nine per cent for US dollars loans, representing up to a two percentage point drop in loan rates. These new rates become effective October 1, 2010. Interest rates on loans accessed through the Bank's Approved Financial...

The Government has guaranteed a US$20 million loan by the Students' Loan Bureau (SLB), as the agency seeks to increase the pool of funds available to students wishing to pursue tertiary level studies. Minister without Portfolio in the Office of the Prime Minister with responsibility for Information and Telecommunications, Hon. Daryl Vaz, informed journalists of the loan from the Caribbean...

Minister of Finance and the Public Service, Hon. Audley Shaw, told participants in the 14th annual Americas Conference in Miami Wednesday (September 15) of initiatives being taken by the Jamaican government in response to the economic challenges facing the country. Speaking at a plenary discussion, "Caribbean After the Crisis" at the conference at the Biltmore Hotel in Miami, the Minister...

Minister of Finance and the Public Service, Hon. Audley Shaw, says that while the reluctance of commercial banks to reduce interest rates is nothing new, the situation is most glaring this time around. Reiterating his concern about the unwillingness of the financial institutions to adjust lending rates, despite the new interest rate environment, Mr. Shaw said the practice has been...

A major road, the Christiana Development Road, is to be constructed in Manchester under the Jamaica Development Infrastructure Programme (JDIP), at a cost US$6 million (approximately J$500 million). Making the announcement at the Manchester launch of the JDIP on Thursday September 9, Minister of Finance and the Public Service, Hon. Audley Shaw, said it will ease traffic in the town...

Minister of Finance and the Public Service, Hon. Audley Shaw says with the economy now stabilised, it is time to focus on issues of productivity, production, savings and investment in order to stimulate further growth. Speaking at the 11th annual Shirley Playfair Lecture at the Jamaica Pegasus Hotel, in New Kingston, on September 9, Mr. Shaw said that critical to...