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Jamaica has successfully met all the quantitative performance criteria of the International Monetary Fund (IMF), for the March 2010 test date. The IMF team, which was in Jamaica carrying out a review of Jamaica's performance under the Stand-By Arrangement (SBA) with the Fund, has found that Jamaica's performance up to March 31 was better than anticipated. Based on the performance...

Minister of Industry, Investment and Commerce, Hon. Karl Samuda, says that a draft bill to establish a statutory body for the development and promotion of Jamaica as a centre for international financial services has been referred to the Attorney-General for legal opinion. The Minister, who was opening the 2010/11 Sectoral Debate in Gordon House on May 11, said it is...

In structuring and executing the Jamaica Debt Exchange (JDX), the single most important success factor was to get all major stakeholders to agree on what would constitute its ultimate success. This observation was made by Governor of the Bank of Jamaica, Bryan Wynter, during his presentation to the 31st Meeting of the Latin American Network of Central Banks and Finance...

The Bank of Jamaica (BoJ) is predicting that the country will achieve single-digit inflation in 2010/11, following gains made in the final quarter of 2009/10, which ended in March. At the BoJ's quarterly press briefing Wednesday (May 12), in downtown Kingston, the Bank's Governor, Brian Wynter, noted that there were encouraging signs in the financial markets, as investor anxieties about...

Agreement for a US$2.3 million (J$211.3 million) grant for a community-based Landslide Risk Reduction Project in Jamaica, was signed Thursday (May 6) between the Government of Jamaica, the World Bank and the Japanese Social Development Fund (JSDF). The funds are being administered by the World Bank, through the JSDF, which was set up within the Bank to provide indirect assistance...

Minister of Finance and the Public Service, Hon. Audley Shaw, said that the Government is satisfied that the partnership with Caribbean Airlines meets the objectives of the Air Jamaica Divestment Project and protects the interests of the Government and Jamaica as a whole. Mr. Shaw, in a statement in the House of Representatives on Tuesday (May 4) said that the...

The deadline for the payment of property tax for the 2010/11 period has been pushed back to June 30, to allow persons additional time to make payments. The Inland Revenue Department had originally set the deadline for April 30. Director of Public Relations at the Tax Administration Services Department, Meris Haughton, is encouraging persons to take advantage of the extended...

Outgoing Managing Director of the National Export-Import (EXIM) Bank, Mrs. Pamella McLean, was honoured yesterday (April 28), at a cocktail reception, held at the Alhambra Inn, in Kingston. Mrs. McLean, who will demit office on April 30, has given 38 years of service to the public service, 24 years of which were dedicated to the EXIM Bank. Minister of Finance...

The Bill to legislate casino gaming in Jamaica has been sent to King's House for the Governor-General's signature following passage in both Houses of Parliament in March. In an exclusive interview with JIS News, Minister of State in the Ministry of Finance and the Public Service, Senator, the Hon. Arthur Williams outlined the next steps to be taken after the...

Minister of Finance and the Public Service, Hon Audley Shaw, has again called for the lowering of interest rates to single digits, to boost production within the Jamaican economy. "We have to have a consensus around bringing interest rates down in the economy. Irretrievably down to single digit interest rates, that is where we are going", he stated. He made...

Minister of Finance and the Public Service, Hon. Audley Shaw, said today (April 22), that he was pleased at the broad support he has received from members of the private sector and the Opposition, for his proposal to introduce a flat tax for micro, small and medium sized enterprises (MSMEs). He explained that the flat tax could be an important...

Figures produced by the Statistical Institute of Jamaica (STATIN) have shown that inflation slowed in March to 0.5 per cent, compared with 1.4 per cent in January and 2.2 per cent in February, Minister of Finance and the Public Service, Hon. Audley Shaw told the House of Representatives, on Wednesday (April 21). Closing the 2010/2011 Budget Debate at Gordon House,...