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Minister of Finance and the Public Service, Audley Shaw, has urged financial lending institutions to become more receptive to the needs of the business sector. Mr. Shaw urged the institutions to return to the drawing board and rethink their position, warning that they needed to be "receptive and responsive" to stakeholders in the productive sector who are seeking assistance with...

Jamaica's earnings from the bauxite levy are not expected to yield anywhere near the projected $6 billion for the 2009/10 fiscal year, consequent on the global economic downturn, Finance and the Public Service Minister, Audley Shaw, has said. "We will be lucky if we earn half of that," Mr. Shaw told the launch of the FINPYME company competitiveness programme, at...

Implementation of the a bi-lateral air services agreement signed by Jamaica and Brazil has been put on hold, pending, among other things, the divestment of the national carrier, Air Jamaica. The agreement was inked in December 2007, by Transport and Works Minister, Michael Henry, and then Brazilian Ambassador to Jamaica, Cezar Augusto De Souza Lima. It signalled the culmination of...

President of the Graduate School of Leadership and Professional Development in Namibia, Jamaican-born Professor Earle Taylor, has attributed the current global economic crisis to a lack of leadership and management. Professor Taylor said that the unwillingness of some countries to recognise the need for, and value of effective and sound leadership on a continuous basis, or to ensure that this...

By the end of March, the National Export-Import Bank (EXIM) of Jamaica will have disbursed some $6 billion in loan funds for 2008/2009, a 25 per cent increase over the previous fiscal period. The disbursement would have met the target set by the new board of directors appointed in December, 2008 and, as Deputy Managing Director of the bank, Megan...

Minister of Finance and the Public Service, Audley Shaw, has underscored the need for higher output in agriculture, to reduce the number of waivers that the Ministry is called on to grant for imported food items. The Minister, who spoke at the Annual General Meeting of the National People's Co-operative (PC) Bank of Jamaica, on Wednesday (February 18), at the...

Governor of the Bank of Jamaica (BoJ), Derick Latibeaudiere, has said that the Net International Reserves (NIR) remained "relatively strong", despite a drop in the level, due primarily to sales in the foreign exchange market to ease demand pressure and stem depreciation in the value of the dollar. The reserves currently stand at US$1.7 billion and according to Mr. Latibeaudiere...

Minister of Finance and the Public Service, Audley Shaw, has said that a fixed exchange rate policy, in the midst of the current foreign exchange shortage, could cause serious repercussions and, therefore, is not being considered by the Government. Speaking at the 2009 Kingston Money Expo, hosted by Today's Money Limited, at the Hilton Kingston Hotel, New Kingston, on Thursday...

The community of Bucknor in Central Clarendon is to benefit from two major projects valued at $100.5 million, which will entail the rehabilitation of the road and water network in the community and the construction of a multipurpose centre. The projects, which are being funded by the Jamaica Social Investment Fund (JSIF), through its Inner City Basic Services Project (ICBSP),...

Minister of Finance and the Public Service, Audley Shaw, is to meet with representatives of the Jamaica Manufacturers Association (JMA), to discuss their concerns about funding in the context of the current economic crisis. Mr. Shaw also assured them of Government's close cooperation, in overcoming the pressures being created by the economic conditions. "If there is a problem accessing the...

Minister of Finance and the Public Service Minister, Audley Shaw, has denied reports in the Press suggesting that the General Consumption Tax(GCT) will be raised in April. "Nonsense. That is speculation," Mr. Shaw reacted as he addressed the 2009 Kingston Money Expo, hosted by Today's Money Limited, at the Hilton Kingston Hotel, New Kingston, this morning (Feb. 19). He said...

Governor of the Bank of Jamaica (BoJ), Derick Latibeaudiere, has pointed to the need for a collaborative approach, among government and private sector interests, to ensure that Jamaica is well positioned to benefit from the expected upturn in the global economy. Mr. Latibeaudiere was speaking at the quarterly press briefing at the BoJ's auditorium, downtown Kingston on Wednesday (Feb. 18),...