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Minister of Finance and the Public Service, Hon. Audley Shaw, has criticised his predecessor, Dr. Omar Davies, for failing to take responsibility for the 1990s financial sector meltdown, which led to the establishment of the Financial Sector Adjustment Company (FINSAC) in 1997. Finance and the Public Service Minister, Hon. Audley Shaw (left), lends an ear to Senior Fellow at Stanford...

Minister of Finance and the Public Service, Hon Audley Shaw, says he is optimistic that the Government will successfully negotiate the US$1.2 billion standby facility it is seeking with the International Monetary Fund (IMF). The facility has become necessary in the face of a fall-off of some US$1billion in the Government's revenues, consequent on the global economic downturn and its...

Minister of Finance and the Public Service, Hon. Audley Shaw, announced today (November 24), that he is currently preparing a Cabinet submission, which would outline reforms to the administrative structure of the tax system. This, he explained, would seek to address key issues such as the separation of the process of domestic and international taxation, and positioning Ministries departments and...

Prime Minister the Hon. Bruce Golding says that the Government will outline the terms of its projected US$1.2 billion standby facility with the International Monetary Fund (IMF) in Parliament shortly. "We will very shortly be outlining in Parliament the terms of the IMF agreement, the details of the economic programme to be pursued and targets to be met, the policy...

Programme Director for the Plan Development Unit at the Planning Institute of Jamaica (PIOJ), Ms. Leila Palmer, has expressed confidence in the country's ability to achieve the goals set out in the Vision 2030 National Development Plan but stated that "we all must play our part." She noted that the country has made improvements in many areas of human and...

The Social Development Commission (SDC) has asked community leaders from nine communities within the Stony Hill Development Area Committee (DAC), to submit development plans for their communities. Director, Community Development Planning and Programmes at the SDC, Courtney Brown, made the request while addressing community leaders at the Stony Hill DAC awards ceremony, held on November 22, at the Stony Hill...

Principal of the University of the West Indies' (UWI) Mona campus, the Hon. Professor Gordon Shirley, has said that steps have been taken to address some of the challenges affecting the institution, arising from the global economic downturn. Speaking at the launch of the campus' engineering programme at the Mona Visitors' Lodge and Conference Centre on Monday (Nov. 9), Professor...

Today's working population must take the necessary steps to ensure that they have sufficient funds and assets to care for themselves after retirement, said Executive Director of the Financial Services Commission (FSC), Mr. Rohan Barnett. Addressing a recent pension seminar hosted by the FSC at the Jamaica Pegasus Hotel in Kingston, Mr. Barnett said that by putting plans in place...

Manager of Research, Development and Portfolio Management at Pan Caribbean Bank, Merrick Plummer, has said that Jamaica's efforts to respond to the current recession with stimulus packages have been stifled by the lack of cash resources. Mr. Plummer said that many persons have responded to the economic crisis by withholding their money, and with the life blood of the financial...

The Bank of Jamaica, in a release on Tuesday (November 03), has assured the public that recent developments at the bank have not affected its day-to-day operations. The release from the BOJ said: The public will by now be aware, that the Hon. Derick Latibeaudiere, O.J. demitted office as Governor of the Bank of Jamaica on Friday, 30 October 2009....

Prime Minister the Hon. Bruce Golding has assured the country that the Government is close to resolving outstanding issues with the International Monetary Fund (IMF), which will enable the Fund to proceed with its application for a US$1.2 billion standby loan agreement. Mr. Golding, in a statement to the House of Representatives on Tuesday (November 3), said that the departure...

The Financial Services Commission (FSC) has recorded a sharp improvement in the processing of applications seeking approval for private pension schemes. This was noted today (November 3), by Minister of Finance and the Public Service, Hon. Audley Shaw, at the FSC's pensions exposition, held at the Jamaica Pegasus Hotel, in Kingston. The Minister reported that 120 of the superannuation fund...