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Minister of Finance and the Public Service, Hon. Audley Shaw, is confident that the Executive Board of the International Monetary Fund (IMF) will grant approval for the US$2.4 billion stand-by loan facility for Jamaica, when it meets today (February 4) in Washington D.C. to consider the application. Mr. Shaw said the agreement will mark "a very significant point of departure"...

Following a week of operation in western Jamaica with its mobile service, the Companies Office of Jamaica (CoJ) is expressing some disappointment at the low response from Non-Government Organizations (NGO's). The CoJ mobile team was in the West from January 25 to January 29, making stops in Savana-La-Mar and Negril in Westmoreland, Lucea in Hanover, and Montego Bay in St....

Minister of Finance and the Public Service, Hon. Audley Shaw, has announced his intention to bring to Parliament, two pieces of legislation, which will provide for greater fiscal responsibility within the public service. The legislation, which will be tabled in Parliament on February 2, are amendments to the Financial Administration and Audit (FAA) Act and the Public Bodies Management and...

Minister of Finance and the Public Service, Hon Audley Shaw, has asked that the Opposition give unequivocal support to the Jamaica Debt Exchange (JDX) programme. Closing the debate on the economy in the House of Representatives Tuesday night, Mr. Shaw accused the Opposition of giving different signals in terms of their support for the initiative. "I don't quite understand the...

Preliminary indications are that up to yesterday (January 26), there was a 91 per cent participation rate in the Government's debt exchange initiative. Making the disclosure at the Jamaica Customs Department's stakeholders symposium at the Jamaica Conference Centre, in Downtown Kingston, today (January 27), Minister of Finance and the Public Service, Hon. Audley Shaw, described this development as "successful by...

Under the Jamaica Debt Exchange (JDX) the Government of Jamaica has received submission forms, which are subject to verification, from holders aggregating more than 90% of the bonds eligible for the transaction. Submission forms were still being submitted late yesterday (Wednesday), and the Government has received several requests from brokers to extend the submission deadline to allow them additional time...

Jamaica's request for a 27-month Standby Arrangement with the International Monetary Fund (IMF) will go to the Executive Board of the Fund next week Wednesday, February third. This was disclosed by Minister of Finance and the Public Service Hon. Audley Shaw, as he closed the debate on the Government's economic programme, which will be supported by the US$1.25 billion loan,...

Finance and the Public Service Minister, Hon. Audley Shaw, said that after registering a decline during this fiscal year, real Gross Domestic Product (GDP) is expected to rise by 0.5 per cent in the next financial year. "The growth outlook reflects both gradual pick up on activity in the mining sector, as global demands recover, and continued investment and growth...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that Jamaicans need to be more knowledgeable about financial matters, including how their personal financial choices affect the economic wellbeing of the country. "Financial literacy education is important to both the financial security of individuals and by extension our nation," Mr. Shaw stated. He was speaking at the...

The Bank of Jamaica Act is to be amended by December this year, to establish the legal framework to support its responsibility for overall financial system stability. Making the disclosure at Tuesday's (January 19) sitting of the House of Representatives, Minister of Finance and the Public Service, Hon. Audley Shaw, said that the move will support efforts by the Government...

Senior Director in the Debt Management Unit of the Ministry of Finance and the Public Service, Pamella McLaren, has said that pension funds and insurance companies should be receptive to the new Jamaica Debt Exchange initiative. "I expect the pension funds and insurance companies, in particular, will be very receptive to these new bonds. You spoke we listened," she declared...

Jamaica Customs Week, which will be observed from January 23 to 29, will focus attention on the continued thrust by the Jamaica Customs Department to develop partnerships with the business sector. "We always have to find ways to improve our procedures and processes at Customs so that bureaucracy is reduced, Jamaica becomes a more competitive place as a destination for...