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An interim Central Treasury Management Fund System (CTMS) will be in place by April 2011. This was disclosed by Minister of Finance and the Public Service, Hon. Audley Shaw during the sitting of the House of Representatives on Tuesday (October 19) at Gordon House. The CTMS aims to ensure better management of public resources, by bringing the responsibility for treasury...

"We cannot make blood out of stone," Minister of Finance and the Public Service, Hon Audley Shaw, has responded to criticisms of the Government's position on pay increases for public sector workers. "It's not a statement of arrogance, it is a factual statement. Let's start talking honestly to one another," Mr. Shaw suggested to the trade unions, as he responded...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that since resuming its programme with the International Monetary Fund (IMF), Jamaica has recorded unquestioned economic progress. "There is now no debate as to whether there has been progress in the last three years, in the Jamaican economy," the Minister told an audience on Thursday October 7 at...

Minister of State in the Ministry of Finance and the Public Service, Senator Arthur Williams, will chair the Public Sector Monitoring Committee (PSMC) which has been appointed by the Cabinet. The committee will also include representatives of: the Office of the Prime Minister (OPM), representing the Public Sector Transformation Unit (PSTU); the Ministries of Finance and the Public Service, Education,...

Minister of Finance and the Public Service, Hon. Audley Shaw will, tomorrow (October 7), brief the International Monetary Fund (IMF), in Washington, on the level of damage that the country has sustained from Tropical Storm Nicole, and its likely impact on the Government's fiscal programme. Prime Minister, Hon. Bruce Golding told the House of Representatives, yesterday (October 5), that the...

Minister of Finance and the Public Service, Hon. Audley Shaw, says that many of the issues pressing Jamaica today are not economic, and has challenged the Church to lead a moral crusade involving the various spheres of the society. "Many of the problems that we have to solve are not necessarily economic; many of them begin in the hearts and...

A survey on bank charges conducted by the Consumer Affairs Commission (CAC) has shown that with the reduction of interest rates, there has been an increase in service charges by banks on various products. Speaking at a press briefing, on (October 5), at the Ministry of Industry, Investment and Commerce, Minister, Hon. Karl Samuda noted that the highest recorded rate...

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...