Business

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Jamaica’s Economy Slides in 2011 IMF Reports

Jamaica’s fiscal performance deteriorated in 2011 because of delays in the implementation of an agreed structural reform program, a just concluded International Monetary Fund (IMF) mission to the island has reported. “Recent macroeconomic developments have been mixed,” Luis Breuer, the Fund’s mission chief for Jamaica said in the statement after the mission. “Following three consecutive …

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Mark Lee

About Mark Lee

Editor, author and writer with career spanning print, radio, television and new media.

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Progress in St Kitts Talk with Creditors – IMF

The International Monetary Fund (IMF) has spoken positively about steps being taken by the St Kitts and Nevis government to address a debt problem that led to the country defaulting on a domestic bond that became due on November 25. An IMF mission to the twin island federation November 28 – December 12, to undertake the …

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Debt Before Dishonour – St Kitts Defaults as it Restructures

The credit rating of St Kitts and Nevis, the smallest independent state in the hemisphere, took a hit when it defaulted on a bond payment the end of November. The administration of Prime Minister Denzil Douglas, in the midst of developing a debt rescheduling package with the help of London-based consultants, White Oak Advisory, to …

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Mark Lee

About Mark Lee

Editor, author and writer with career spanning print, radio, television and new media.

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Siemens Makes US$38-million Software Grant to Jamaican University

The Faculty of Engineering and Computing, University of Technology, Jamaica (UTech), has received a software grant with a commercial value of US$38.85M (JA$3.4B) from Siemens PLM software, a business unit of the Siemens Industry Automation Division and a provider of product lifecycle management (PLM) software and services. The presentation by Leecorp Ltd, the local representative, …

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City Suspends Market Vendor and Philanthropist Tilly Johnson

Dr Tilly Johnson, 82, one of Hamilton Farmers’ Market’s longest-serving vendors, has been slapped with a 30 day suspension under the Hamilton Farmers’ Markets’ Zero-Tolerance policy. The staff acted on a customer’s allegation that she was harassed by Johnson; the incident occurred Saturday, May 21st. Johnson was given notice at 3 pm Friday. Despite Ms …

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Great Huts – An Afro-Caribbean Tourist Resort

After a quarter of a million US dollar upgrade, Great Huts, one of Jamaica’s most distinctive resorts, has something new for visitors seeking an Afro-Caribbean vacation in a rustic setting this spring and summer. The Jamaican resort opened its brand new Queen of Sheba and African Sunrise huts as part of its renovation of the …

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Mark Lee

About Mark Lee

Editor, author and writer with career spanning print, radio, television and new media.

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Haiti Quake Prompts Jamaica Risk Model

Mona GeoInformatics Institute and the Earthquake Unit at the University of the West Indies (UWI) have developed an earthquake risk model for NEM Insurance Company Jamaica Limited, says NEM’s General Manager Chris Hind. The model aims to determine whether NEM has adequate reinsurance coverage to cope with a 7.0 magnitude earthquake, similar to the one …

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Mark Lee

About Mark Lee

Editor, author and writer with career spanning print, radio, television and new media.

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Team Jamaica Goes for Business Gold in 2012

Jamaican businesses are mobilising to make significant gains by partnering to develop trade and investment opportunities leading up to the Olympic Games in London, UK in 2012. Earl Jarrett, Chairman of the Trade Policy committee in the Private Sector Organisation of Jamaica (PSOJ) and general manager of Jamaica National Building Society (JNBS), said that government …

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Mark Lee

About Mark Lee

Editor, author and writer with career spanning print, radio, television and new media.

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IMF Approves US$93.9 Million Disbursement for Jamaica

The Executive Board of the International Monetary Fund (IMF) has concluded the first review of Jamaica’s economic performance under a Stand-By Arrangement (SBA), enabling the immediate disbursement about US$94 million), bringing total disbursements under the arrangement to about US$705, it was announced Wednesday (June 23). Jamaica has performed very well under the program. All quantitative …

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IMF Approves $117.8 Million Loan for Antigua and Barbuda

Against the background of the global economic crisis, the International Monetary Fund (IMF) has approved a $117.8 million loan to support the Antigua and Barbuda’s plan to recover from mounting government debt, weak economic growth, and the effects of the economic crisis. The global lender announced June 8 that the money will help Antigua and …

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