Jamaica
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Taxation uncertainty will drive investors from Jamaica, says O’Brien
KINGSTON, Jamaica – Chairman of the Digicel Group Denis O'Brien says recent uncertainties around taxation have impacted the level of foreign direct investment in Jamaica and will drive away investors from the island. At the same time, he said, notwithstanding its foray into the hospitality industry in Haiti, the telecommunications outfit will not be entering the local tourism sector. O'Brien,…
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IMF agreement unlikely by month-end, says Golding
KINGSTON, Jamaica – Former Prime Minister Bruce Golding said the International Monetary Fund (IMF) is unlikely to approve an extended fund facility for Jamaica by the end of March based on the schedule of the executive board. Golding said it is “a matter of concern” that the IMF updated its executive board calendar archive on its website on February 6…
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Jamaica developing national budget with IMF programme in mind
KINGSTON, Jamaica, CMC – The Jamaica government says it has agreed on the upcoming national budget in keeping with a programme being worked out with the International Monetary Fund (IMF). A statement issued at the end of the first day of the Cabinet retreat, said that the Portia Simpson Miller administration completed all prior actions required to successfully sign an…
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CARICOM confidence must not fail now
KINGSTON, Jamaica – Below is an edited version of a public lecture by Ambassador Albert R. Ramdin, assistant secretary general of the OAS, at the UWI, Mona, on March 19. A few weeks ago, I read two separate headlines in the Caribbean press about CARICOM, which may have confused many. The headlines, which came within days of each other, were…
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Chamber of Commerce says no IMF deal before April
KINGSTON, Jamaica, CMC – President of the Jamaica Chamber of Commerce (JCC), Francis Kennedy says it is highly unlikely that the country will seal a deal with the International Monetary Fund (IMF) before the end of next month. On Tuesday Finance Minister, Dr. Peter Phillips said he was still hopeful that Jamaica's IMF programme will be approved before the end…
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Good move, PNP
KINGSTON, Jamaica – People who view politicians with scepticism and a great deal of suspicion are likely to dismiss the People's National Party's (PNP's) desire to address public perception of corruption in politics. Yet, it is a burning issue that the ruling party should be commended for confronting with the hope of correcting in this its 75th year of existence.…
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Jamaican-born legislator calls for more support for illegal Caribbean youths
NEW YORK, CMC – Jamaican-born legislator, Nick Perry, is calling for more support for illegal Caribbean youths in the United States. Perry, a New York State Assemblyman, who represents the predominantly Caribbean 58th Assembly District in Brooklyn, New York, said that he is standing firmly behind the New York State Assembly’s “million dollar commitment” to fund the creation of the…
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Jamaica pointed to cheap solutions to internal trade barriers
KINGSTON, Jamaica – Jamaica faces external non-tariff barriers to trade mainly from the United States, followed by Barbados and Antigua and Barbuda. But a new report also cites Jamaica for throwing up its own internal blockades to trade flows, which hamper exports. The new International Trade Centre (ITC) report on non-tariff barriers (NTMs) in the Caribbean indicates that export inspections…
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IMF programme held up
KINGSTON, Jamaica, CMC – The Jamaica government says “contingency discussions” involving various international financial institutions have held up its programme for approval by the International Monetary Fund (IMF). Finance Minister Dr Peter Phillips told legislators that the discussions involve the IMF, the Inter-American Development Bank (IDB), and the World Bank “regarding the extent of the commitment from each institution to…
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Cabinet retreats again!
KINGSTON, Jamaica – FOR THE fifth time since forming the Government in January 2012, the Portia Simpson Miller-chaired Cabinet is to go into retreat. Sandrea Falconer, minister with responsibility for information, said the Cabinet retreat will take place this Sunday. “Cabinet ministers will discuss the growth agenda, including job-creation strategies, human-capital development, social inclusion, improved security and safety, fiscal prudence,…
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