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Minister of Finance and the Public Service, Hon. Audley Shaw, announced an increase in the tax on certain alcoholic beverages in the House of Representatives Tuesday (November 30). Mr. Shaw stated that a single specific Special Consumption Tax (SCT), based on the alcohol content at the rate of $960 per litre of pure alcohol, will be applied. This increase will...

Jamaica is to co-operate with Columbia in the exchange of financial intelligence, related to money laundering and terrorist financing, Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, has disclosed. This follows Cabinet's approval of a Memorandum of Understanding (MoU) between the Financial Information and Analysis Unit of Colombia and the Government of Jamaica, through the Financial...

The Ministry of Finance and the Public Service has finalised a three-year contract with the Governor of the Bank of Jamaica (BoJ), Brian Wynter. Minister of Finance and the Public Service, Hon. Audley Shaw, made the disclosure in Parliament Tuesday (November 23) while answering questions from Opposition Spokesperson on Finance, Dr. Omar Davies. The Finance Minister noted that the monthly...

The Mission from the International Monetary Fund (IMF), which reviewed Jamaica's economic programme under the Stand-By Arrangement, has recommended that the Fund relax the primary surplus fiscal target for this year by 0.3 per cent of gross domestic product (GDP). At a press briefing on the country's performance for the quarter ending in September, held at the Ministry of Finance...

Governor of the Bank of Jamaica, Brian Wynter, is expected to meet with the heads of local commercial banks next week, to discuss the findings of an investigation into the charges being applied by these banks. The announcement was made by the Minister of Finance and the Public Service, Hon Audley Shaw, at a press conference at the Ministry, Friday...

Existing and potential exporters and linkage companies to the export sector are invited to an interactive workshop to be hosted by the EXIM Bank on November 23, at the Wyndham Kingston Hotel, in New Kingston. Dubbed, 'Tackling Business Problems Finding Solutions', the workshop will facilitate discussions on meeting new standards for the international marketplace; simplifying the process of getting goods...

Bank of Jamaica (BoJ) Governor, Brian Wynter, says there is a need for discussions between the Bank and financial institutions, to determine the timeframe within which they could reduce interest rates, reflecting consistency with BoJ policy. Speaking at the BoJ's quarterly briefing at the institution's downtown Kingston auditorium on Wednesday (November 10), Mr. Wynter noted that while the central bank's...

Bank of Jamaica (BoJ) Governor, Brian Wynter, says the institution is currently making preparations to accept applications from financial entities interested in operating credit bureaus. Speaking at the BoJ's quarterly briefing, downtown Kingston, on Wednesday (November 10), Mr. Wynter said that with the legal framework already in place, the central bank is completing work on the commercial framework. He said...

Bank of Jamaica (BoJ) Governor, Brian Wynter, says there is a need for discussions between the Bank and financial institutions, to determine the timeframe within which they could reduce interest rates, reflecting consistency with BoJ policy. Speaking at the BoJ's quarterly briefing at the institution's downtown Kingston auditorium on Wednesday (November 10), Mr. Wynter noted that while the central bank's...

Until December 2011, the National Certification Body of Jamaica (NCBJ) will be offering a 25 per cent discount to all organisations, in the private and public sector, requiring management systems certification. To access the discounted rates, persons will need to apply for the NCBJ's special discount card. Management system certification refers to the verification, by a competent third party authority,...

State Minister in the Ministry of Finance and the Public Service, Senator Arthur Williams, has re-emphasised the Government's commitment to pension reform. "The Government continues to be quite clear on the need for reform there may be deficiencies in the current system, but we are committed to ensuring that the reform takes place," Senator Williams said at this morning's (November...

The Bank of Jamaica (BoJ) unveiled a commemorative limited edition $50 note, on November 10, as part of activities to mark the institution's 50th anniversary. Speaking at the BoJ's quarterly press briefing in the institution's auditorium, downtown Kingston, Governor, Brian Wynter, said the note's issuance is in commemoration of the passage of the Bank of Jamaica Act in October 1960,...