Individuals could soon be able to move their accounts easily from one bank to another. The Bank of Jamaica (BOJ) is actively developing strategies to make deposit portability a reality locally. Deposit portability will give the banked and unbanked the flexibility to shop around at the various banks to find the services that best suit their needs. In addition to...

Prime Minister, the Most Hon. Andrew Holness’ decision to decline the salary increase attached to the post under the new public-sector-compensation regime will have implications for past and future holders of the office. Minister without Portfolio with Responsibility for Information, Hon. Robert Morgan, provided an update during Wednesday’s (May 24) post-Cabinet press briefing at Jamaica House. “It’s not the [Most...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, has reiterated that he stands ready to engage with public-sector groups to discuss anomalies pertaining to the compensation review. The new compensation system aims to reduce and simplify the 325 salary scales and 185 allowances across the civil service and partly represents a continuation of the Government’s public-sector-transformation...

Prime Minister, the Most Hon. Andrew Holness, says the Government is well under way with the implementation of the public-sector compensation review and transformation. Addressing Tuesday’s (May 23) Labour Day tree-planting exercise in Hartlands, St. Catherine, Mr. Holness said the review covers, among other things, increased payment for workers as well as the establishment of a performance evaluation and management...

Jamaica’s economy is estimated to have grown in the range of four to 5.5 per cent for fiscal year 2022/23. This out-turn, according to Bank of Jamaica (BOJ) Governor, Richard Byles, is consistent with the range previously anticipated by the institution. He was addressing journalists during the BOJ’s semi-virtual media briefing on Monday (May 22). Mr. Byles, who noted that...

Prime Minister, the Most Hon. Andrew Holness, has credited the economy’s quick recovery and return to pre-COVID-19 growth levels to the Government’s prudent fiscal management. He noted that unemployment has dropped to six per cent, the lowest ever in Jamaica’s history, to the point where the country is practically approaching full employment. “The fiscal management has been such that the...

Jamaica is set to benefit from a £7-million package to increase the country’s access to climate financing. This was announced by Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom (UK), the Rt. Hon. James Cleverly, during a press conference following the Jamaica-UK strategic dialogue at the Ministry of Foreign Affairs and Foreign Trade downtown Kingston...