The International Monetary Fund (IMF) has created a new instrument, the Resilience and Sustainability Trust (RST) facility, for low- and middle-income member countries, including Caribbean states. This will provide funding support to undertake structural engagements that address climate change vulnerabilities. Managing Director, Kristalina Georgieva, who made the announcement on Friday (June 17), said the facility was endorsed by the IMF’s...

Persons with Central Bank Digital Currency (CBDC) accounts will be able to use these to receive remittances from overseas. Governor of the Bank of Jamaica (BOJ), which is spearheading implementation of the CBDC dubbed ‘JAM-DEX’, Richard Byles, said that while individuals sending funds would have to do so using existing arrangements at their respective locations, when the money gets here,...

Persons using cryptocurrencies or who are contemplating this are being urged by the Bank of Jamaica (BOJ) to do so cautiously. Governor, Richard Byles, says the institution is mindful to advise individuals of the unpredictable nature of cryptocurrencies’ value. “We do take the time to warn people that those values can go up and down, and quite [volatilely] so too,”...

Jamaica has been lauded for its progress in becoming a digital society. The commendation came from Chief Digital Officer and Corporate Vice President, Microsoft US Global Technology Leader, Jacky Wright. She was speaking during a ‘Riverside Chat’ held as part of the Jamaica 60 Diaspora Conference, hosted by the Ministry of Foreign Affairs and Foreign Trade from June 14 to...

The Students Loan Bureau (SLB) is now accepting loan applications online. The development is a new feature of the Strategic Transformation of End-users Experience Portal (STEEP), which has been enabled by the entity’s redesigned website. Deputy Executive Director at the SLB, Charmaine Rose Anderson, told JIS News that the customer portal allows the SLB to process the loans of applicants...

The Bank of Jamaica (BOJ) is looking to commence national rollout of the Central Bank Digital Currency (CBDC) – JAM-DEX – at the end of June. Governor Richard Byles said that the institution is at a point where “we are… ready [to proceed]”. He was speaking during a ‘Riverside Chat’ panel discussion on digital and cryptocurrency, during the 2022 Jamaica...

Business interests in the diaspora are being encouraged to participate in the Jamaica Stock Exchange (JSE) by not only trading in companies already on the market but also having their entities listed as well. JSE Managing Director, Dr. Marlene Street Forrest, said the latest listing of a small and medium-sized entity on Wednesday (June 15), which she noted was oversubscribed...