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Managing Director of Sterling Asset Management, Charles Ross, has said that borrowing from the International Monetary Fund (IMF), is the least painful option for Jamaica at this time. Mr. Ross, who was addressing the weekly meeting of the Rotary Club of Mandeville yesterday (Sept. 15) at the Golf View Hotel in Manchester, noted that a number of countries in the...

Head of the Bank of Jamaica's (BoJ) Currency Department, Mr. Norbert Bryan, says the new $5,000 note, to be issued on September 24, will prove challenging to be counterfeited, given the design of its security features. Speaking with JIS News, Mr. Bryan said the printers and consultants had undertaken "a lot of research and development" in designing the note, adding...

The Bank of Jamaica (BoJ) is set to issue the new $5,000 note into general circulation on September 24, and will be staging a series of seminars to assist in sensitising financial sector stakeholders and the wider public on the note's new features. The seminars will be held in Kingston, Montego Bay and Mandeville, beginning Wednesday (September 16), ahead of...

Minister of Finance and the Public Service, Hon. Audley Shaw, said last night that the outstanding cost to the country of co-hosting Cricket World Cup (CWC) 2007 has risen by an additional $1.4 billion, being claimed by Israeli-owned construction firm, Ashtrom Building Systems, for refurbishing Sabina Park. "That is what I discovered this week," Mr. Shaw told a large crowd...

Parliament will resume its sessions on Tuesday, September 15, and sit again on Wednesday, September 16. This was announced by Minister with responsibility for Information, Telecommunications and Special Projects, Daryl Vaz, at the Post Cabinet Press Conference at Jamaica House on September 9. The Minister said that the Government is consulting with the social partners before submitting the Supplementary Estimates...

The J$200 million allocated to the Young Entrepreneurs Programme (YEP) has not been affected by the cuts in the Budget. The Development Bank of Jamaica has requested a tranche of $100 M from the Ministry of Finance and the Public Service as a first draw down on the amount allocated. The budget for the programme remains at the J$200 million,...

Internal auditors employed in the public sector kicked off their three-day conference at the Jamaica Conference Centre in downtown Kingston Tuesday (September 8). The inaugural Government of Jamaica's Internal Auditors' Conference is being held under the theme, 'Internal Auditing: A Global Perspective'. Director of the Internal Audit Directorate (IAD) in the Ministry of Finance and the Public Service, Hope Blake,...

The European Union on Tuesday granted Jamaica J$3.6 billion under the European Commission co-operation programme. This brings the total EU assistance to an estimated Euro 740 million (just under J$93 billion) since the inception of the Lom

The Net International Reserves (NIR) of the Bank of Jamaica (BOJ) was boosted to some US$2 billion, or 16 weeks worth of imported goods and services, Tuesday (September 1), after an injection of J$3.6 billion in budget support grants from the European Union (EU). This follows Friday's (August 28) disbursement of 74% of Jamaica's quota of Special Drawing Rights (SDRs)...

Minister of Finance and the Public Service, the Hon. Audley Shaw, on Monday (August 31) confirmed that Jamaica received an allocation of 74% of its quota of Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) last Friday. The Minister said that with the allocation, the Net International Reserves (NIR) of the Bank of Jamaica have increased to over...

Dr. Wesley Hughes will officially take up his new position as Financial Secretary, in the Ministry of Finance and the Public Service, on Tuesday (September 1). Dr. Hughes served as Director General of the Planning Institute of Jamaica (PIOJ), from 1995 until his reassignment. He succeeds former Financial Secretary, Sharon Crooks, who has taken up a position as an advisor...

The Ministry of Finance and the Public Service has acknowledged receipt of the Report on the Nurses Reclassification exercise from the Review Panel. This information has been conveyed to the Ministry of Health and the Nurses Association of Jamaica (NAJ), according to a release issued by the Ministry of Finance. The release stated as follows: "Minister of State in the...