For December 2021, Bank of Jamaica projects that the value of currency issued by the Bank will increase by approximately $23.1 billion (11.3 per cent), relative to the stock at end-November 2021 ($204.4 billion) (see Figure 1). The forecast for the month is below the five-year average growth rate of 16.4 per cent for the month of December. The projected...

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says the transformation of the public sector is “critically important” to the country’s development. Speaking at the start of a series of engagements with public sector employees hosted by the Transformation Implementation Unit (TIU), recently, Minister Clarke noted that there are three main imperatives driving the transformation –...

Tax Administration Jamaica (TAJ) is reminding business persons that their 4th quarter Estimated Corporate Income Tax and Self-employed Statutory Payments are due on Wednesday, December 15, 2021. These include: Estimated Corporate Income Tax (4th quarter) Self Employed Statutory Payments (4th quarter) Stamp Duty (4th quarter) Trade Licence Withholding Tax  Additionally, employer’s monthly Statutory Payroll Deductions (S01) for the month of November are due on December 14.  Business persons are reminded that...

The Inter-American Development Bank (IDB) is commending the Government of Jamaica for its fiscal management of the country. In an interview with JIS News, IDB President, Mauricio Claver-Carone, said that the handling of the economy prior to the coronavirus (COVID-19) pandemic has put Jamaica in a great position to rebound. “This is a Government that has done all the right...

The Public Bodies Management and Accountability (Nomination, Selection and Appointment to Boards) Regulations was approved in the House of Representatives on December 7. Piloting the legislation, Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, said the Regulations represents a seminal tool towards achieving good corporate governance in respect of public bodies. There are approximately 146 public...

Bank of Jamaica is aware that the $5000 commemorative banknote, issued on 23 July 2012 in celebration of Jamaica’s 50 years of political independence, is currently in circulation. The Bank has also been advised that persons are experiencing difficulty conducting transactions with this banknote. In this regard, the Bank apologizes for any inconvenience caused. Although the commemorative $5000 note is...

The Government is to provide Jamaicans with the opportunity of owning a stake in the Jamalco alumina refinery in Clarendon, upon completion of the incorporation process. This was disclosed by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, who said the Government’s vision is to go public with its stake in the newly formulated entity. He...