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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...

Minister of Finance and the Public Service, Hon Audley Shaw, says that Jamaicans should soon start seeing repairs to their roads financed from the special consumption tax on fuel introduced in April. Speaking Wednesday at the weekly Post Cabinet Briefing at Jamaica House, the Minister reported that the glitches, which led to the Government receiving the payments from the Petrojam...

The Government is expressing optimism that the Board of the International Monetary Fund (IMF) will make a decision on Jamaica's application for balance of payment support, by the end of October. Minister of Finance and the Public Service, Hon. Audley Shaw, told journalists at today's (August 26) post Cabinet press briefing, at Jamaica House, that discussions with the IMF are...

The Commission of Enquiry into the Collapse of the Financial Institutions in Jamaica in the 1990s, chaired by Hon. Justice Boyd Carey (retired) has stated that, having regard to the vast amount of documents and submissions that have been received and yet to be received, it is not feasible for the Commission, at this juncture, to fix a date with...