The diaspora is being lobbied to support three projects, for which the organisers are seeking to raise $33 million on the Jamaica Social Stock Exchange (JSSE) to fund ongoing implementation. Managing Director of the Jamaica Stock Exchange (JSE) of which the JSSE is a subsidiary, Dr. Marlene Street Forrest, says the listed engagements are the ‘Stop the Violence’ project (formerly...

The House of Representatives on Tuesday (June 21) approved the General Consumption Tax (Amendment of Schedule) Order, 2022, Resolution, providing for the exemption of lithium-ion batteries from General Consumption Tax (GCT). Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, first announced the removal of GCT on the importation of lithium-ion batteries during his closing budget presentation...

International Monetary Fund (IMF) Caribbean Member Countries are being encouraged to lead take-up of the institution’s multibillion-dollar Resilience and Sustainability Trust (RST). The RST is aimed at helping countries build resilience against external shocks and ensure sustainable growth, contributing to their long-term balance of payments stability. Managing Director, Kristalina Georgieva, said that Caribbean countries are ideally positioned to tap into...

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...