Plans are being made to review the public procurement system as the Government aims to achieve greater levels of efficiency. Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said this will be a “data-driven approach towards reviving the procurement system”. “The Ministry is undertaking a data-intensive process where we will be retrieving information on 27 variables...

The regional investment community now has a 24-hour cable television channel, the Caribbean Business Exchange (CBX), dedicated to providing comprehensive information on industry developments. A division of the Jamaica Stock Exchange (JSE), the CBX will broadcast on channel 143 on the Flow Network and 28 on Digicel. The channel was formally launched by JSE Managing Director, Dr. Marlene Street Forrest,...

Ground has been broken for the development of a contemporary, recreational area at the Maverley Park in St. Andrew. This is part of the Kingston and St. Andrew Municipal Corporation (KSAMC) ‘Paint the City’ initiative, which is aimed at upgrading, beautifying, and reinjecting life into the City. The 2.5-acre area will be transformed into an inviting leisure space for residents...

The country has recorded broad, notable gains across the four goals underpinning the long-term National Development Plan – Vision 2030 Jamaica. Being spearheaded by the Vision 2030 Jamaica Secretariat, the Plan seeks to position the island to achieve developed country status and make it the “place of choice to live, work, raise families and do business.” The national goals are...

The Bank of Jamaica (BOJ) says the country has adequate gross and net international reserves to finance its obligations, cushion against exogenous shocks, and address near to medium-term eventualities. Addressing the BOJ’s digital quarterly media briefing on Friday (August 19), Senior Deputy Governor, Dr. Wayne Robinson, reported that the gross reserves total US$4.3 billion, representing 129 per cent of the...

Digital payment wallet, Lynk, is hoping to tap into the multibillion-dollar market of monetary transactions that exists in Jamaica. Digital payment wallets are the platforms used to facilitate transactions of the Bank of Jamaica’s Central Bank Digital Currency (CBDC). In Jamaica, approximately $10 trillion in transactions occur annually across all sectors, 80 per cent of which are cash transactions. Speaking...

The Bank of Jamaica (BOJ) is projecting 2022/23 fiscal year growth to be within the range of 2.5 per cent and 4.5 per cent. Governor, Richard Byles, says growth is also expected to range between one and three per cent for 2023/24. He was speaking during the BOJ’s digital quarterly media briefing on Friday (August 19). Noting that the economy...