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Page 1: IMF Praises Ja’s Commitment to Reform Programme

IMF Praises Ja’s Commitmentto Reform ProgrammeTHE INTERN-

A T I O N A LMonetary Fund

(IMF) has given highmarks for Jamaica’s per-formance under the Stand-By Arrangement (SBA)with the Fund. In its recently released70-page review ofJamaica’s economic per-formance, the IMF notesthat “commitment to theeconomic reform pro-gramme remains strong,”with “economic indicatorsat historical highs, support-ed by a favourable macro-economic environment.” “Unemployment isfalling, new jobs are beingcreated, and there is robustactivity in construction andhotels and restaurants.Inflation and the currentaccount are low, helped byrelatively stable oil pricesand the Government’spolicy efforts,” the reportcontinues. The Fund says “the his-

torically low yields” in therecent global bonds reopen-ing reflect “Jamaica’s hard-won credibility.” “After more than fouryears of difficult economicreforms, Jamaica’s pro-

gramme implementationremains exemplary,” theWashington-based multi-lateral noted. Giving the secondreview under Jamaica’sSBA, the Fund says that

strong domestic ownershipof the reform agenda acrosstwo different governmentsand the broader society hashelped to entrench macro-economic stability and fiscaldiscipline.

Prime Minister the Most Hon. Andrew Holness (centre) and Finance and the PublicService Minister, Hon. Audley Shaw (right), listen as Head of the InternationalMonetary Fund (IMF) Mission Team to Jamaica, Dr. Uma Ramakrishnan, speaksduring a press conference held recently at the Office of the Prime Minister.

PRIME MINISTER theMost Hon. AndrewHolness says the Cockpitboundary definition isbeing finalised and will bebrought to Parliamentshortly. “At Cabinet, we had aspecial session where wewent through and lookedat the boundaries and weare hoping that we will beable to bring this toParliament (shortly),” thePrime Minister said in theHouse of Representativeson November 7. In September, theJamaica House PetitionPortal registered a petitionfrom an environmentalorganisation, urging theGovernment to legallyestablish the boundaries ofthe Cockpit Country. The Government hadcommitted to providing aresponse within 30 days.However, a release fromthe Office of the PrimeMinister stated that given

consultation with theenvironmental commu-nity, as well as their con-cerns regarding the draftboundaries, the Govern-ment has set a revisedtimeline to give an officialresponse. The Cockpit Countryis a hilly and dense area

with limestone denudationsin southern Trelawny. Spilling over into theadjacent parishes of St.Elizabeth and parts of St.James, the area has thehighest diversity of plantsand animals anywhere onthe island.

Cockpit Boundaries for Parliament Soon

Prime Minister the Most Hon. Andrew Holness addressesthe House of Representatives on November 7.

Minister of Science, Energy and Technology, Dr. the Hon. Andrew Wheatley,assists students in accessing the Internet at the opening of the Mayfield All-AgeSchool Community Resource Centre in St. Elizabeth recently.

Mayfield All-Age School CommunityResource Centre Opens

Jamaica Can Produce up to 50 Per Cent ofEnergy From Renewables – PM

PRIME MINISTER theMost Hon. Andrew Holnesssays Jamaica has the poten-tial to produce up to 50 percent of the country’s energyneeds from renewablesources. The Prime Minister,who was speaking toreporters following a tour ofBMR Jamaica Wind in St.Elizabeth on November 8,said the country “has tothink carefully and strategi-cally as to how it uses thealternatives that God hasgiven us.’’

“The renewable (ener-gy source) that (is) here atBMR is wind. I certainlybelieve that there is greatpotential on this side of theisland, between Manchesterand St. Elizabeth, for there tobe an expansion in wind-generating plants,” he stated. The Government iscurrently developing anintegrated resource plan thatwill project the country’sfuture energy requirementsand how those needs can besupplied by using renew-ables, in particular, wind

and solar, the PrimeMinister explained. He also indicated thatthe solar energy capacity isbeing expanded and “verysoon another solar plant willbe opened, and we are alsolooking at waste energy. Allof these are environmen-tally friendly solutions.” The Prime Ministersaid he is very impressedwith what BMR has beendoing, noting that “the pos-ture that has been taken inthe development of thisplant is one that integratesthe community.”

Prime Minister the Most Hon. Andrew Holness (2nd left) and other stakeholderstour BMR Jamaica Wind in St. Elizabeth on November 8.

GOVERNOR-GENERAL,His Excellency the MostHon. Sir Patrick Allen, inshort order, will appointfive Commissioners to asingle Anti-CorruptionUnit, to investigate andprosecute corruption inJamaica. Justice Minister, Hon.Delroy Chuck, confirmedthat the Governor-Generalhas now signed theIntegrity Commission Bill,which was approved by theSenate in July, paving theway for the establishmentof the Unit. “After the Governor-General appoints the fiveCommissioners, they willbegin the process of imple-menting the terms of the(unit),” Mr. Chuck said. He was speaking toreporters following thecommissioning of 241Justices of the Peace (JPs)for the parish of St.Catherine at the PortmoreSeventh-day AdventistChurch on November 8. The new single Anti-C orruption Unit will incor-

porate the Office of theContractor General, theCommission for thePrevention of Corruption,and the IntegrityCommission. Meanwhile, Mr. Chucksaid that debate is to beginon November 14 inParliament on the newJustices of the Peace Act of

2017, which seeks tostrengthen procedures forthe selection, appointmentand regulation of JPs. Changes to the new Billwill provide for the expan-sion of the geographicaljurisdiction of JPs, allowingthem to give islandwideservice in respect of non-judicial functions.

Justice Minister, Hon. Delroy Chuck, displays thesigned Integrity Commission Act, at a commissioningceremony for 241 Justices of the Peace for St. Catherine at the Portmore Seventh-day Adventist Church on November 8.

Over 300 Officials Expectedfor IMF Caribbean ForumOVER 300 officials areexpected for the sixthInternational MonetaryFund (IMF) High LevelCaribbean Forum, slatedfor Thursday, November16 at the Jamaica PegasusHotel in New Kingston. Among these are cur-rent and former regionalHeads of Government,Finance Ministers, CentralBank Governors and pri-vate sector representa-tives, as well as senior staffof the IMF and other inter-national organisations. Heading the list ofdignitaries are PrimeMinister, the Most Hon.Andrew Holness and IMFManaging Director,Christine LaGarde, whoare the keynote speakersfor the opening ceremony. The conference isbeing held under thetheme: ‘Unleashing

Growth and StrengtheningResilience in the Carib-bean’, and will focus onissues impacting theregion and the potentialopportunities that effec-tively address these withinthe context of an ever-changing global landscape. To this end, fourpanel discussions featur-ing presentations by awide cross-section oflocal, regional and inter-national stakeholders,have been scheduled. The first will focus on‘The Caribbean GrowthChallenge: Crime andYouth Unemployment’. The others will cover‘Fiscal Policy andPolitical Cycles’, ‘TheFinancial Sector: Stabilityand Growth Trade-offs’,and ‘Challenges andOpportunities in theCaribbean’.

Governor-General to AppointCommissioners for Anti-Corruption Unit