Governor Says A Great Foundation Has Been Laid on Which to Build

Newly appointed Bank of Jamaica (BOJ) Governor, Richard Byles, says a “great foundation” for enhanced economic growth has been laid on which to build.

“I am proud of the hard work that we have done across political administrations to move the economy forward. I am inspired to take the baton from [my predecessor] Governor [Brian] Wynter and play my part in the process,” Mr. Byles said.

He was speaking at the Central Bank’s quarterly briefing at the BOJ, in downtown Kingston on Thursday (August 29).

The briefing was the first since he took up his appointment on August 19.

Mr. Byles said he has started this journey at a time when Jamaica’s economy is in the best state it has been for some time.

He acknowledged, however, that it is also at a time when the global economy faces “clouds of uncertainty”.

Mr. Byles said, however, that he has embarked on his new appointment with confidence, “because I am a Jamaican who believes in the potential of Jamaica and the economy”.

Meanwhile, the Governor welcomed Thursday’s media briefing being among the first tasks of his initial nine days in office.

“Communication is as critical to monetary policy as journalism is to a sound democracy. We all want an informed and educated public on economic matters. This is, therefore, one of the most important parts of my job, and I am glad to get started so early,” he said.

Mr. Byles also thanked the Central Bank’s staff “for all the work they have done to bring me up to speed on the critical workings of the complex machinery called the Bank of Jamaica”.