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The House of Representatives yesterday (February 9) passed legislation that will allow for the sharing of credit information between specified financial institutions and enable creditors to make better lending decisions. The Credit Reporting Bill, which was passed with 42 amendments, also provides for the licensing and supervision of a credit bureau, and other connected matters. Piloting the bill, Minister of...

Minister with Portfolio responsibility for the Public Service, Senator the Hon Arthur Williams, met on Monday (February 8) with the members of the Police Federation at the Ministry, National Heroes' Circle, Kingston. However, due to Mr. Williams having to attend the weekly sitting of Cabinet, the meeting was shortened and another one has been scheduled for 2 pm on Wednesday...

Caricom has given a commitment to finance the Jamaica Defence Force (JDF) relief base in Haiti for another month so that humanitarian assistance from the region can continue in the earthquake ravaged capital of Port au Prince. The additional funding until March 5 will come from the government of the Commonwealth of the Bahamas. This assurance came during a meeting...

Minister of Finance and the Public Service, Hon. Audley Shaw, says the Students' Loan Bureau (SLB), will be making an announcement soon regarding the lowering of its interest rates. "In line with the general direction of lowered interest rates, we expect that interest rates at the Students' Loan Bureau will also be declining," Mr. Shaw told journalists at the post-Cabinet...

The standby lending facility of US$1.27 billion (SDR 820.5 million) for Jamaica, was approved by the International Monetary Fund (IMF), on February 4, paving the way for the other Multilaterals to pour in additional credit of some US$1.1 billion. The agreement will immediately release funding of US$1.335 billion for Jamaica, from the US$2.37 billion pool of funds earmarked for the...

Bank of Jamaica (BOJ) Governor, Mr. Brian Wynter, is scheduled to host his first quarterly press briefing on Wednesday, February 10. The interactive forum comes in the wake of Thursday's (February 4) approval by the International Monetary Fund (IMF) of the US$1.27 billion (SDR 820.5 million) standby lending facility and the historic debt exchange programme. The event also involves the...

Minister of Finance and the Public Service, the Hon Audley Shaw, says that the Jamaica Airline Pilots Association's (JALPA) interest in purchasing Air Jamaica could only be considered if there was a fall-out in current discussions with Caribbean Airlines, and failure to reach an agreement with the bidder next in line. "Then we would have to reopen the bidding process...

Minister of Finance and the Public Service, Hon. Audley Shaw, has said that Caribbean Airlines is the most probable buyer of Air Jamaica at this time and the company's proposal is being actively considered. He was speaking at today's (February 3) post-Cabinet press briefing at Jamaica House. While acknowledging the interest of the Jamaica Airline Pilots Association (JALPA), Minister Shaw...

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...