Jamaica
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Jamaica gives assurances to implement EPA agreements
KINGSTON, Jamaica, CMC – The Jamaica government says it has given approval for the necessary amendments to be made to the Customs Act as the island implements the tariff liberalisation aspect of the Economic Partnership Agreement (EPA) signed between the Caribbean Forum (CARIFORUM) countries and the European Union in 2008. The tariff liberalisation will be phased over 25 years with…
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Confronting CARICOM’s implementation deficit
KINGSTON, Jamaica – THE recent announcement by the secretary general of the Caribbean Community, Irwin LaRocque, of fresh efforts to restructure the management of the regional economic integration movement would most likely raise new questions about the commitment of Heads of Government to implement decisions unanimously adopted. We are now into the third week of 2013 and as far as…
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PM to give update on IMF discussions
KINGSTON, Jamaica, CMC – The Jamaica government is expected to update the nation later on Monday “on matters related to aspects of the negotiations with the International Monetary Fund (IMF), according to an official statement issued here. Prime Minister Portia Simpson Miller and members of her Cabinet are expected to address the media on the outcome of a three-day special…
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Former diplomat says Petrocaribe safe
KINGSTON, Jamaica – FORMER Jamaican Ambassador to Venezuela Clifton Stone thinks that as long as Hugo Chavez's socialist party remains in power there is no danger to the Petrocaribe oil agreement which benefits Jamaica. “The danger would arise if the Opposition prevails and elections are called and they are victorious,” Stone told the Jamaica Observer. “[Henrique] Capriles and the Opposition…
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EDITORIAL – The IMF, Cabinet and the retreat
KINGSTON, Jamaica – We are not as concerned as most that Jamaica hasn't yet concluded a borrowing agreement with the International Monetary Fund (IMF). For failure to conclude a deal will further narrow our options in the financial markets and perhaps force us into a cold-turkey kicking of our borrowing habit. Our greater fear is that the Government lacks the…
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Cabinet issues directive to complete IMF talks
KINGSTON, Jamaica – The Office of the Prime Minister (OPM) last night indicated that Cabinet has received an update from the International Monetary Fund (IMF) negotiating team and given directions for transmission to the IMF staff in order to bring about a conclusion to the negotiations. The update was received during day one of a special three-day meeting of the…
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PM underscores need to sign agreement with IMF
KINGSTON, Jamaica, CMC – Prime Minister Portia Simpson Miller says it is “necessary” for Jamaica to secure an agreement with the International Monetary Fund (IMF) as her Cabinet ended the first day of a three-day meeting here. A brief statement issued at the end of the first day on Thursday said that Prime Minister Simpon Miller said the agreement with…
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Forget the politics and do what needs to be done
KINGSTON, Jamaica – MR Delano Franklyn may well be right. Perhaps the Chicago Tribune was unfair in its adverse characterisation of the Jamaican economy, using Greece as a sort of measuring stick. What is not in question, though, is that our economy is in an awful state — badly in need of restructuring. This, as a result of a downward…
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Zacca: Jamaica heading for economic crisis without IMF deal
KINGSTON, Jamaica – PRIVATE Sector Organisation of Jamaica (PSOJ) President Christopher Zacca says Jamaica will be diving deep into an economic crisis if the country continues to be without an International Monetary Fund (IMF) agreement. What's more, Zacca figures that the longer it takes to seal a deal, the closer the country will get to falling over its own fiscal…
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Chávez-type strength key to PetroCaribe
KINGSTON, Jamaica – WITH SPECULATIONS rife over whether Venezuela would continue the PetroCaribe arrangement if Hugo Chávez is replaced as president, Jamaica's energy minister says willpower such as the ailing leader's is a necessary ingredient to the survival of the deal. “I think there is commitment on the part of the administration (to continue it), but because there was opposition…
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