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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...

Commissioner of Customs, Danville Walker, has said that the Jamaica Customs Department is looking to expand its Authorised Economic Operator (AEO) Programme, which has enjoyed significant success among a cross-section of large, medium and small companies. "We have close to some 400 companies now in that programme and they essentially can have all their paper work done through customs house...

Senior Director in the Debt Management Unit at the Ministry of Finance and the Public Service, Pamella McLaren, says that Jamaicans have the power to collectively change the country's debt profile. She said Jamaica's debt dynamics have become stressed, as a result of the combined effects of the accumulation of persistent fiscal deficits, high domestic interest rates and weak economic...

The Statistical Institute of Jamaica (STATIN) has been made aware that unauthorised persons have been visiting residences and business places claiming to be Census Takers and Interviewers employed to STATIN. STATIN wishes to inform the public that all STATIN members of staff who are required to collect information from householders and business places are equipped with STATIN identification cards, which...

The House of Representatives is scheduled to complete debate on Tuesday (January 26) on a motion from Minister of Finance and the Public Service, the Hon Audley Shaw, seeking approval of the Letter of Intent for a Standby Agreement with the International Monetary Fund (IMF) this month. The Government had expected to start and complete the debate Tuesday (January 19),...

As part of its management of public expenditure, the Government will enact legislation, before the end of 2010/11, to put in place a fiscal responsibility framework. This as it anticipates final approval from the IMF executive Board for a standby loan facility of US$1.25 billion this month. In a presentation in the House of Representatives on Tuesday (January 19), Minister...

Minister of Finance and the Public Service, Hon. Audley Shaw, says reports from rating agencies, Standards & Poors and Fitch, indicate that Jamaica's credit rating will improve to the single "B" category, soon. This is upon successful closing of liability management transactions under the proposed public debt exchange, which forms part of Government's debt management strategy. He noted that this...