Tag: finance

BUSINESS

Commonwealth Finance Ministers Appeal For Help

Commonwealth finance ministers, including those from the Caribbean, made an appeal recently for the G20, Paris Club, World Bank, and International Monetary Fund to extend financial support to vulnerable nations. This call comes against the deep and widespread economic impact of the COVID-19 pandemic that is creating havoc on developing and underdeveloped countries. In a joint statement, the 54 member […]

Jamaica

Jamaica — No Dividends Payout For 2020

According to a Bank of Jamaica (BOJ) press release, the bank is closely monitoring the current impact of the novel COVID-19 virus pandemic on the global and domestic financial system. The release noted that although the country’s economy has been impacted negatively by the coronavirus, the BOJ has indicated that the fundamentals of Jamaica’s “financial system continue to be strong […]

Jamaica

Jamaica Set To Spend An Additional $50.15 Billion

Jamaica’s 2019/2020 budget is set to increase by over $50 billion. This was revealed in the first Supplementary Estimates of Expenditure tabled recently in the House of Representatives. More than $40 billion is for recent debt payments which will result in the country saving billions annually. The allocation of the remaining $10 billion will go towards education, national security, community […]

EDUCATION School

Barbados Government Set UWI Students Free From Tuition Fees

Barbadian undergraduate students at the Cave Hill campus of the University of the West Indies (UWI) will no longer be trapped or financially handicapped as the government has decided to step up to the plate to offset tuition fees for students at the institution. This new move by the Mia Mottley-led government is a promise kept for the reversal a […]

NEWS

Ja. Gov’t Announces $710 Billion Budget

The Government of Jamaica has announced that it intends to spend $710 billion this year to finance its objectives. The government on Thursday afternoon tabled estimates which are 20 percent higher than last year’s budget. Debt repayment will account for 44 percent of the spending. In fiscal year 2017/18, debt repayments will cost $310 billion. This is up 38 percent […]

NEWS

US Federal Reserve Stand Firm

No Change in Rates in a bid to maintain its support for economic growth, the Federal Reserve has decided to keep interest rate at the current position of 0.25 percent to 0.5 percent. The Fed raised its benchmark interest rate by 25 basis points last year December for the first time in over a decade. It noted that global economic […]