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Executive Director of the Financial Services Commission (FSC), Rohan Barnett, has attributed the insulation of Jamaica's financial services sector from the contagion of the global economic downturn to the industry's regulatory framework. He said that the nature of the regulatory framework prevented the compromising of local institutions, consequent on the downturn which has resulted in the downfall of international financial...

Minister without Portfolio in the Ministry of Finance and the Public Service, Senator Don Wehby, is optimistic that the reform measures currently being pursued by the Government, will yield economic growth for Jamaica. He was outlining the policy reform measures, for which the administration has secured US$100 million from the Caribbean Development Bank (CDB), during the signing of the agreement...

Funding for the Government's fiscal and debt sustainability initiatives has been boosted by a US$100 million (J$8.5 billion) policy-based loan, from the Caribbean Development Bank (CDB). The facility will increase the support being provided to the administration by fellow multilateral funding agencies, the Inter-American Development Bank (IDB), and the World Bank, in the area of policy reform. Finance and the...

Commissioner of Customs, Danville Walker, has supported the decision to convert the department into an Executive Agency, but is concerned about the direction of the current agencies. "My position is, I fully support the idea of Customs becoming an Executive Agency. In fact, when I was making a decision in my mind to come to Customs, it was the single...

Minister of Finance and the Public Service, Audley Shaw, has warned public sector entities against holding on to foreign exchange and contributing to the pressure on the local currency. "We have too many public sector bodies that are out there competing for dollars in an uncoordinated way. We are going to draw them up. We are going to straighten them...

General Manager of the Jamaica Stock Exchange (JSE), Marlene Street-Forrest, has emphasised that regional collaboration provides the best approach to properly respond to global challenges. She said that while it is possible and necessary to pursue goals at the domestic level, the potential gains from doing so with a regional mindset and at the regional level, are significantly greater. Mrs....

Minister of Finance and the Public Service, Audley Shaw, says that the current challenges facing the Jamaican economy, provide an excellent opportunity to embark on the most massive programme of social and economic transformation the country has ever experienced. "This programme, although dictated by painful circumstances, has been long overdue. We need to focus our attention and sharpen our vision...

Minister of Finance and the Public Service, Audley Shaw, has said that although Jamaica is categorised as a heavily indebted, middle income country, it has been able to access nearly US$1 billion in funding, at low interest rates, from multilateral lending agencies since October 2007. Mr. Shaw made the declaration on Wednesday (January 28), while addressing the Fourth Regional Conference...

Minister of Finance and the Public Service, Audley Shaw, said that in an effort to stamp out corruption in the country's revenue collection, several changes have been implemented. The changes include the re-establishment of the Revenue Protection Division (RPD) and the appointment of a new Director to oversee the operations of that department. Mr. Shaw said that the RPD is...

Principal Finance Officer in the Ministry of Finance and the Public Service, Dwight Moore, has been appointed Inspector General for the newly established Public Accountability Inspectorate (PAI), effective January 26. This was announced today (January 29), by Financial Secretary in the Ministry, Sharon Crooks. The Financial Secretary further advised that recruitment of technical and other support staff, subject to due...

Finance Minister, Audley Shaw, will be the special guest on "Jamaica House Live", the monthly call in radio programme hosted by Prime Minister Bruce Golding, when it returns to the airwaves tomorrow night (Wednesday Jan. 28). The programme will run from 8:30 - 10:00 p.m. and Jamaicans at home and abroad will have the opportunity to call in to speak...

In the bid to weed out corruption within the Government service, Minister of Finance and the Public Service, Audley Shaw, has moved to re-establish and strengthen three key agencies under his purview. These are the Financial Investigations Division (FID), Revenue Protection Division (RPD), and Public Accountability Inspectorate (PAI). Addressing a special consultation organised by the Customs Department today (Jan. 27)...