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Minister of Finance and the Public Service, Hon. Audley Shaw, says that the Government is satisfied that merging the national airline, Air Jamaica, with regional counterpart, Caribbean Airlines, was a correct and timely move. Speaking at Mayberry Investments Limited’s monthly Investors Forum, at the Knutsford Court Hotel, New Kingston, on Wednesday (January 19), Mr. Shaw said that in light of...

Finance and Public Service Minister, Hon. Audley Shaw, is confident that Jamaica will pass the International Monetary Fund’s (IMF) 2010 December test. The tests are targets, jointly agreed on by the Government and IMF, which Jamaica need to meet to access funding from a US$1.27 million standby agreement negotiated in 2010. Speaking at Mayberry Investments Limited’s first monthly Investors Forum...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the fiscal and legislative achievements Jamaica recorded in 2010, have presented opportunities to overcome the global economic crisis. Speaking at the first Mayberry Investments Limited's monthly Investors Forum for 2011, at the Knutsford Court Hotel, New Kingston, on Wednesday (January 19), the Minister described 2010 as a "make or...

Prime Minister Bruce Golding and Head of the Delegation of the European Union (EU), Ambassador Dr. Marco Mazzochi-Alemanni, will participate in the handing over of $3 billion from the EU towards the fiscal budget. The ceremony will be held on Tuesday, January 25 at Jamaica House. The EU budget supports increases in the level of discretionary expenditure available to the...

Minister of Finance and the Public, Hon. Audley Shaw, says the salary of current Bank of Jamaica Governor (BoJ), Brian Wynter, is some $8 million less than his predecessor. Mr. Shaw told the House of Representatives Tuesday (January 18) that Mr. Winter's remuneration package totals $29, 789.8 million per annum, nearly $8 million less than former Governor DerrickLatibeaudiere’s contract He...

The Jamaica Social Investment Fund (JSIF), under its World Bank funded Rural Economic Development Initiative (REDI), has signed agreements to fund  six community projects in Manchester and St. Elizabeth at a cost of over $24 million. Speaking at the signing on Thursday (January 13) at the Ridgemount United Church, Manchester, REDI Project Manager with REDI, Stephanie Hutchinson-French, urged the public...

Minister of Finance and the Public Service, Hon. Audley Shaw, says changes to the Deposit Insurance Act will create the basis for enhanced depositor entitlements, and improved operational efficiencies in the Deposit Insurance Scheme “Clause 3 (Section 5), which outlines the functions of the Jamaica Deposit Insurance Corporation (JDIC), is now being amended to allow the Corporation to make loans...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, has indicated the possibility of legislation being promulgated, to ensure that commercial banks provide customers with adequate information on their services. "There is no point in saying that you need to do this, but there is no enforcement of that provision to protect the consumer," he said at a press conference...

The Tax Administration is reminding Employers and self employed persons that Friday, January 14, 2011 is the due date to file Employer's Annual Return PAYE (Income Tax) and Education Tax Annual Returns for the year of assessment 2010. Persons are being encouraged to use the Tax Administration's convenient online option to file these returns and pay the relevant amounts. To...

Minister of Finance and The Public Service The Hon. Audley Shaw conducted high-level discussions this morning with Export-Import Bank of China Executive Vice Governor Mr. Zhu Hongjie on his first visit to Jamaica. The talks centred on the implementation of various projects being financed by the Bank in Jamaica, as well as on other areas of mutual cooperation. The Export-Import...

The final drawdown of US$200 million from the US$630.00 million loan, described as one of the largest loans disbursed by the Inter-American Development Bank (IDB), was signed Wednesday (December 15) in Washington D.C., between the Government of Jamaica and the IDB. The loan, which pertains to the GOJ fiscal consolidation programme, was signed by Minister of Finance and the Public...

Finance and Public Service Minister, Hon. Audley Shaw, said that in addition to enhancing revenue, the Government's decision to revise the tax regime for alcoholic beverages aims to address the possible social consequences from the increased consumption of hard liquor, especially among young people. Speaking at the Management Institute for National Development's (MIND) 11th graduation ceremony at the institution's Old...