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Unfolding preliminary macro-economic data suggests that Jamaica is likely to pass the upcoming International Monetary Fund (IMF) test, following the Fund's review at the end of August. This observation was made by Senior IMF representative to Jamaica, Dr. Gene Leon, during a recent presentation to the Jamaica Chamber of Commerce, in Kingston. Dr. Leon noted that the overall fiscal deficit...

The Ministry of Finance and the Public Service has announced that it is reviewing the tax waiver/incentive regime, to formulate a new Tax Waiver/Incentive Policy and Strategy that is in line with the country's developmental goals. The new Tax Waiver/Incentive Policy and Strategy will be formulated by the end of December, but the Ministry issued a release Friday (August 5)...

Minister of Finance and the Public Service, Hon. Audley Shaw, has emphasised that "private sector investments, earning foreign exchange, producing runaway wealth, creating jobs and creating prosperity in Jamaica must ultimately be the substitutes for borrowing." The Minister was speaking yesterday (August 3), at the signing of an agreement for the Government to receive a US$200 million loan from the...

The Honourable Audley Shaw, Minister of Finance and the Public Service and Mr. Luis Alberto Moreno, President of the Inter-American Development Bank (IDB), signed a loan for US$200 million (JA$17.2 billion) today at the IDB Headquarters in Washington. The loan, under the Government's Fiscal Consolidation Programme, is to support the GOJ's efforts to achieve fiscal policy goals over the short...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that as a result of the Government's commitment to good governance, Jamaica has been receiving unprecedented support from international development partners (IDPs). Minister of Finance and the Public Service, Hon Audley Shaw He named the IDPs as: the International Monetary Fund (IMF); the Inter-American Development Bank (IDB); the...

Minister of Finance and the Public Service, Hon. Audley Shaw, said the Government would be pushing hard to achieve healthy economic growth during the current financial year, now that it has achieved macro-economic stability. Addressing a group of influential financiers, business executives and investors at a business luncheon at the Reform Club in London on July 28, Mr Shaw said...

It is projected that during this financial year, the global standard and the timeframe within which Jamaica's analogue systems are to be switched to digital will be finalised, said Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz. Making his contribution to the 2010/11 Sectoral Debate today (July 27) in the House of Representatives, the Minister informed...

The government is looking to pass the Town and Country Planning Bill this fiscal year, which will give local planning authorities full responsibility for development control and enforcement. Minister with responsibility for Information, Telecommunications and Special Projects, Hon. Daryl Vaz, making his contribution to the 2010/11 Sectoral Debate in the House of Representatives today (July 27), said that the legislation...

Minister of Finance and the Public Service, the Hon. Audley Shaw, left for London Monday July 26, to attend the Commonwealth Secretariat's first Global Small States Conference. Minister of Finance and the Public Service, Hon. Audley Shaw The Minister will update the international investment community on developments in Jamaica's medium-term Economic Programme. The conference will be held at Marlborough House,...

The Financial Services Commission (FSC) issued a Cease and Desist Order on Wednesday, June 30, 2010 to Lorreston Bailey, Licensed Securities Dealer and Deborah Bailey pursuant to section 68 (1B) of the Securities Act (the Act). The FSC also assumed temporary management of Lorreston Bailey, Licensed Securities Dealer today, Friday, July 23, 2010 at 8:30 a.m. This is pursuant to...

A credible fiscal and economic plan, designed to gain the trust and confidence of the society, is among five critical planks, put forward by Financial Secretary, Dr. Wesley Hughes, on which he said, Jamaica's fiscal adjustment programme must be grounded. He cited the Jamaica Debt Exchange (JDX), launched in January, as a prime example of this strategy. "The buy-in and...

Financial Secretary, Dr. Wesley Hughes, has said that the Jamaica Debt Exchange (JDX) has provided a turning point for Jamaica by transforming an unsustainable fiscal situation into a more manageable and favourable one. Speaking at a recent Financial Services Commission (FSC)-sponsored investment forum entitled: 'The Jamaica Debt Exchange: The Way Forward', Dr. Hughes emphasised that without the JDX, the high...