The Bank of Jamaica (BOJ) remains on track for rollout of the Central Bank Digital Currency (CBDC) during the first quarter of 2022. Deputy Governor with responsibility for Banking, Currency Operations, and Financial Markets, Natalie Haynes, said that several key outputs are being targeted for the period. These are passage of amendment to the Bank of Jamaica Act to make...

The Government has allocated $300 million to begin modernisation of the University Hospital of the West Indies (UHWI). The works are part of a major redevelopment project at the hospital, which includes the construction of a new tower with 58 additional bed spaces, 35 neonatal cots and seven major theatres, and the purchase of medical equipment. As stated in the...

Rehabilitation works at the Hope Valley Experimental and August Town Primary schools in St. Andrew are to be completed in the upcoming fiscal year under the Government’s Integrated Community Development Project II. The project, which has been allocated $796.2 million in the 2022/23 Estimates of Expenditure, seeks to enhance access to basic urban infrastructure and services and contribute towards increased...

The Government, and the Jamaica Teachers’ Association (JTA) have signed a 12-month Heads of Agreement for a four per cent increase in wages and allowances for the contract period April 1, 2021 to March 31, 2022. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, in his remarks at the brief ceremony at the Ministry in Kingston...

Agriculture and community tourism enterprises are to benefit from capacity-building exercises and the provision of seedlings and chemicals under the Rural Economic Development Initiative II, in the new fiscal year. An allotment of $677.45 million has been provided in the 2022/23 Estimates of Expenditure to facilitate these and other interventions under the project, which seeks to enhance access to markets...

Construction of three fire stations across the island is to be completed during the new financial year. These are the Montego Bay Fire Station in St. James, the Port Maria Fire Station in St. Mary, and the Yallahs Fire Station in St. Thomas. A sum of $673.54 million has been allocated under the Jamaica Disaster Vulnerability Reduction Project to complete...

In the upcoming financial year, the Government, through the Development Bank of Jamaica (DBJ), will provide 340 new loan guarantees for Micro, Small and Medium-sized Enterprises (MSMEs). A loan guarantee is a pledge by one party (the guarantor) to assume the debt obligation if the borrower defaults. This arrangement is to be facilitated under the Access to Finance for MSMEs...