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The Jamaican dollar experienced its sharpest quarterly appreciation since the June quarter of 1996, strengthening by 4.1 per cent for the just ended quarter. "The strongest appreciation occurred in June when the exchange rate strengthened by 2.9 per cent or $2.46, influenced largely by increased investor preference for Jamaican dollar assets. The preference for Jamaican dollar assets was reflected in...

Minister of Finance and the Public Service, Hon. Audley Shaw has accepted the resignation of Chairman of the Student Loan Bureau (SLB), Andrew Cocking, and other members of the Board. This follows a meeting with members of the Board, today (August 11), during which the audit report submitted by the Public Accountability Inspectorate Division on the operations of the SLB...

Senior International Monetary Fund (IMF) Resident Representative in Jamaica, Dr. Gene Leon, says there are positive signs that Jamaica is beginning to rebound from the impact of the global economic recession. Speaking at the Jamaica Exporters' Association (JEA) breakfast forum at the Jamaica Pegasus Hotel, New Kingston, today (August 11), Dr. Leon cited the "upward trajectory" in growth, which Jamaica's...

Minister of State in the Ministry of Finance and the Public Service, Senator Arthur Williams, has said that the dismissal of Executive Director of the Student's Loan Bureau (SLB), Lenice Barnett, was not linked to her recent comments to Parliament's Public Accounts Committee (PAC) regarding proposed increases in fees for tertiary education. Minister of State in the Ministry of Finance...

Minister of Finance, The Hon. Audley Shaw announced today that the services of the Executive Director of the Student's Loan Bureau, Mrs. Lenice Barnett has been terminated with immediate effect. Minister Shaw advised that following a meeting today with the Chairman of the Board of the Student's Loan Bureau, he will be meeting with the entire Board tomorrow morning and...

Governor of the Bank of Jamaica (BoJ), Bryan Wynter, has urged pensioners to lend their support to the reforms and institutional arrangements that contribute to a lower and more stable inflation environment in the wake of the successful completion of the Jamaica Debt Exchange (JDX) and the signing of the Standby Agreement with the International Monetary Fund (IMF). "As inflation...

The Hon. Audley Shaw, Minister of Finance and Public Service of Jamaica, and Inter-American Development Bank President, Luis Alberto Moreno, signed today a US$ 200 million loan for a fiscal consolidation program. The government of Jamaica will strengthen the country's fiscal policy with unprecedented support from the Inter-American Development Bank. This operation brings loan approvals this year to US$400, in...

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...