Keep the money here, lend to producers, Shaw urges bankers
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Submitted by publicrelations on Mon, 12/22/2008 - 13:42.Jamaica Receives US$90 Million From IDB
KINGSTON,(JIS):
Thursday, December 18, 2008
Jamaica, earlier today (December 18), received US$90 million of the recently agreed US$101 million loan package from the Inter-American Development Bank (IDB).
The major loan agreement covering three loans, was signed by Minister of Finance and the Public Service, Audley Shaw, and the Executive Vice President of the IDB, Daniel Zelikow, in Washington, United States, on December 5, 2008.
In a statement released through the Jamaica Information Service (JIS), the Minister noted that the loans reflected the refocused strategy of the Government, as it seeks to source less expensive loans to meet its budgetary requirements, as well as to gradually reduce dependence on expensive loans from the international capital markets.
The Minister's statement also pointed out that earlier this week, the Finance Ministry completed negotiations with the IDB regarding the US$300 million Liquidity Programme for Growth Sustainability.
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Submitted by publicrelations on Fri, 12/19/2008 - 11:16.Gov't makes $94.8m from auto auction
Published: Friday | December 19, 2008
Jamaica Gleaner
The Jamaica Customs Department received a total of $94.8 million for 90 motor vehicles which were auctioned earlier this month.
Some 188 motor vehicles, that were not claimed for by importers, had been advertised to be auctioned.
However, of the 188 vehicles, 90 had to be withdrawn from the auction because the importers paid up their duties. The remaining eight motor vehicles received no bids.
The vehicles were auctioned over a two-day period at the Queen's Warehouse, 230 Spanish Town Road, St Andrew.
In an earlier interview with The Gleaner, Lorna Rhoden, collector of customs, said more than 1,000 undeclared vehicles at the wharves had contributed to the massive jump in the current batch of automobiles up for auction. In March, approximately 105 vehicles went up for auction.
JEA lauds PM's financial aid plan
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Submitted by publicrelations on Fri, 12/19/2008 - 10:49.$1.1 Billion Withdrawn from Capital Development Fund to Support Budget
KINGSTON (JIS):
Thursday, December 18, 2008
The House of Representatives yesterday (Dec.16), approved the withdrawal of $1.1 billion from the Capital Development Fund (CDF), to be paid into the Consolidated Fund, to provide budgetary support for the 2008/09 financial year.
Minister of Finance and the Public Service, Audley Shaw, who moved the resolution, said this latest withdrawal represents the third for the fiscal year.
He told the Lower House that the bauxite industry was being challenged by the decline in international demand for alumina.
"The truth is that part of the global financial meltdown, has been the aggressive decline in the motor vehicle construction as well as housing construction industries, and those are the two industries that are the greatest users of the end product aluminium," he pointed out.
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Submitted by publicrelations on Thu, 12/18/2008 - 12:17.Government of Jamaica, bauxite firms haggle over levy - $28-billion stimulus package could grow
Published: Wednesday | December 17, 2008
Jamaica Gleaner business@gleanerjm.com
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Submitted by publicrelations on Wed, 12/17/2008 - 10:09.Big relief package
PM announces tax cuts, duty exemptions, millions in loans
Jamaica Observer Monday, December 15, 2008
PRIME Minister Bruce Golding last night outlined a package of tax cuts, duty exemptions and hundreds of millions of dollars in loans in what he said were immediate measures to provide relief to vulnerable sectors of the economy.
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Submitted by publicrelations on Mon, 12/15/2008 - 13:13.Lifesaver: Mortgage relief, billions in tax cuts, loans for limping economy
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Submitted by publicrelations on Mon, 12/15/2008 - 13:11.Caribbean Leaders Urged to Work Together to Address Global Financial Crisis
MIAMI(JIS):
Sunday, December 14, 2008
Minister without Portfolio in the Ministry of Finance and the Public Service, Senator Don Wehby, has urged the leaders of the Caribbean to work together to take steps to sustain their economies, in the face of the global economic turmoil.
Senator Wehby, who was addressing the plenary session of the 32nd annual Caribbean and Central America Conference held recently in downtown Miami, said that even as individual countries work to implement mitigation measures, by working together, greater success can be achieved.
The Minister, who spoke on the topic: 'Financial Fallout - Is the Government Ready', stated that, locally, the Government is taking steps to stave off the worst effects of the financial meltdown, including accessing cheaper loans from multi-lateral institutions to stimulate the productive sector and maintain financial stability, while certain areas of the productive sector are being closely monitored.
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Submitted by publicrelations on Mon, 12/15/2008 - 13:03.IMF Support Important Efforts to Re-Engage Multilaterals
KINGSTON (JIS):
Friday, December 12, 2008
Courtesy of Jamaica Information Service
Minister of Finance and the Public Service, Audley Shaw, has said that the importance of Jamaica's relationship with the International Monetary Fund (IMF) cannot be understated, as it forms a part of Jamaica's programme of re-engaging the multilateral organisations.
Minister Shaw made the statement in a release yesterday (Dec. 10), following meetings with Managing Director of the IMF, Dominique Strauss-Khan and his team.
"Many of you may not be aware of this, but the IMF's support of Jamaica's programmes, as it relates to our policy or development-based loans, is very often solicited if not required before our multilateral development bank partners will disburse the funds. I am happy to report that we have received unequivocal support to date from the IMF on our programmes," he said.
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Submitted by publicrelations on Fri, 12/12/2008 - 12:47.Posted in
