$14-b tax giveback
Finance Minister Dr Nigel Clarke yesterday created a stir in the country when he announced that the Government was “giving back” $14 billion to taxpayers…Clarke said that the Government has decided on a stimulus path on the basis that Jamaica is now in the “best shape” it has been compared to any other period in the last 50 years.
Jamaica in a good place to operate on its own — Duncan
CO-CHAIR of the Economic Programme Oversight Committee (EPOC), Keith Duncan, reckons that Jamaica is in a “good place” to operate on its own when the Precautionary Stand-By Arrangement (PSBA) with the International Monetary Fund (IMF) comes to an end in June.
Jamaica Economic Outlook
The economy likely performed well in the fourth quarter on the back of a solid tourism sector and a healthy labor market. In October, the unemployment rate declined in year-on-year terms, while employment increased, most notably among women…
41 years of IMF ‘rescue’
IN 1976 the Bank of Jamaica (BOJ) ran entirely out of foreign exchange, leaving the Net International Reserves (NIR) balance at zero. There was no foreign exchange to buy oil to provide the country with electricity and gasoline — key sources of energy. No money to buy medicine and other vital supplies for the health sector, to purchase basic food supplies…
After four decades of little or no growth, the Jamaican economy is expected to grow at 1-2% over the medium term. The country is confronted by serious social issues that predominantly affect youth, such as high levels of crime and violence and high unemployment.