Minister Williams in Washington DC for IMF and World Bank Meetings

Minister of Finance and the Public Service, Hon. Fayval Williams, is in Washington DC this week attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, which convene Ministers of Finance, Central Bank Governors, and senior government officials from around the world.

The meetings, which commenced on Monday, October 13, are scheduled to conclude on Saturday, October 17.

The Minister has been accompanied by Financial Secretary, Darlene Morrison, and Deputy Financial Secretary, Dian Black; Governor of the Bank of Jamaica, Richard Byles, and Senior Deputy Governor, Dr. Wayne Robinson, as well as Director General of the Planning Institute of Jamaica, Dr. Wayne Henry.

Mrs. Williams emphasised that while in Washington, the focus remains on sustained engagement with international financial institutions, including the IMF and the World Bank, both of which have been instrumental in supporting Jamaica’s progress.

“Jamaica has a lot of ongoing projects with the World Bank and IMF, which [we] will be discussing, as well as exploring new initiatives and opportunities that would redound to the benefit of Jamaica,” she stated.

In the margins of the IMF and World Bank meetings, Minister Williams will engage in discussions with the African Export-Import Bank (Afreximbank), to which the Government of Jamaica is a signatory.

Afreximbank has allocated development funds in support of CARICOM Member States.

Jamaica’s accession unlocked US$1.5 billion in financing support, elevating Afreximbank’s total commitment to the Caribbean region to an impressive US$3 billion.

Mrs. Williams will also hold discussions with President of the Inter-American Development Bank (IDB), Ilan Goldfajn; Alternate Executive Director of the IMF, Gina Fitzgerald; and Regional Vice President of the World Bank, Susana Cordeiro-Guerra.

During a courtesy call on Jamaica’s Ambassador to the United States and Permanent Representative to the Organization of American States (OAS), His Excellency Major General (Ret’d) Antony Anderson, at the Jamaican Embassy on Monday, October 13, Minister Williams was apprised of several potential investment opportunities being pursued in support of the Government’s growth agenda.

These span the sectors of energy, medicine, medical tourism, and telecommunications and include initiatives to encourage greater diaspora investment in their homeland.

Ambassador Anderson noted that several opportunities are available to members of the diaspora, “which we have been [actively] promoting from the Embassy, for them to take advantage of”.

Mrs. Williams commended Ambassador Anderson for his efforts during his first five months in office and expressed confidence that Jamaica would benefit meaningfully from the promising opportunities being pursued.

During the week-long IMF/World Bank Meetings, the Minister and her delegation will also be supported by Ambassador Anderson and Minister-Counsellor with responsibility for Trade and Economic Affairs at the Embassy, Aliecia Taylor.