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Minister of Finance and the Public Service, the Hon Audley Shaw, says that the Jamaican Government has been bold and courageous in entering into a new arrangement with the International Monetary Fund (IMF). "We have had to make decisions, whether or not they are politically popular," Mr. Shaw told the audience at the Jamaica National Building Society's (JNBS) "Outlook for...

Governor of the Bank of Jamaica (BOJ), Mr. Brian Wynter, wants the University of the West Indies (UWI) to reclaim its historic role of constructive engagement in public policy changes. "The university can contribute to monetary and fiscal challenges, by being the hub for policy discourse that it was in the decade of the 1960s," Mr. Wynter said. He explained...

The World Bank says it can help CARICOM increase its resilience to climate change, with innovative financing and low carbon growth strategies that include a focus on reducing the cost and increasing the efficiency of energy in the region. World Bank Group President, Robert B. Zoellick The Bank's private sector arm, the International Finance Corporation (IFC), is exploring opportunities to...

Minister of Finance and the Public Service, Hon Audley Shaw, left Jamaica March 9 for London, where he will participate in the 2010 Jamaica-United Kingdom Investment Forum, March 10 to 12. Mr. Shaw is one of the main presenters and will address the forum on Jamaica's macroeconomic and investment climate. He is accompanied by Governor of the Bank of Jamaica...

Minister of Finance and the Public Service, Hon. Audley Shaw, has emphasised that modern technology must be applied in the delivery of quality public service, and in pursuing developmental goals. "The overall national policy of integrating information and communications technology (ICT) in the delivery of education is highly commendable. Not only is ICT a cost effective vehicle for the delivery...

As the Government moves to make it easier to file and pay taxes, the Tax Administration announces that effective March 8, 2010, individuals and corporations will be able to electronically file and pay their income tax for 2009 and make their declaration of estimated income and tax payable for 2010, using forms IT01, IT02 and IT07 respectively, in time for...

Minister of Finance and the Public Service, Hon Audley Shaw, and the World Bank's Sector Director for Latin America and the Caribbean Region, Evangeline Javier, signed a US$16 million dollar (approximately J$1.435 billion) loan, to co-finance the EducationSystem Transformation Programme, Thursday (March 4). The loan has a repayment period of 26 years, with a grace period of five (5) years...

Stakeholders in the Caribbean banking sector will gather in Jamaica for three days later this month, to identify best practices for addressing bank insolvency issues, when the Jamaica Deposit Insurance Corporation (JDIC) stages its inaugural Caribbean Bank Insolvency Conference. Titled 'Bank Insolvency in the Caribbean: Law and Best Practice,' the conference is slated for the Rose Hall Resort and Spa...

The Inter-American Development Bank (IDB) stands ready to support Jamaica with a programme of US$600 million in loans during 2010, IDB Executive Vice President, Daniel Zelikow has said. A press release from the international agency said Mr. Zelikow recently met with Prime Minister, Hon. Bruce Golding and the Minister of Finance and the Public Service, Hon. Audley Shaw to congratulate...

The Financial Services Commission (FSC) and the Bank of Jamaica (BOJ), the main regulators of the financial services sector will shortly address issues of capital adequacy and margin requirements for securities dealers, as recommended by the International Monetary Fund (IMF). According to Deputy Executive Director of the FSC, George Roper, while the changes to capitalisation and margin requirements cannot be...

The Minister of Finance and the Public Service, Hon. Audley Shaw, says the Ministry will be moving to reclaim bonds currently being held by investors who have declined to participate in the Government's Jamaica Debt Exchange (JDX) programme. The debt management initiative involved voluntary exchange of existing bonds, excluding Treasury Bills, issued by the by the Government in the domestic...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that while the introduction of casino gaming will not save the economy, it will help to boost earnings and bring more tourists to the island. "What we have to accept is that casinos have become very much an institutionalised part of the tourism product worldwide and it has...