The Governor of Jamaica’s central bank, Derick
Latibeaudiere resigned suddenly October 30, 2009.
In a tersely worded statement the Jamaican
Ministry of Finance said Latibeaudiere, who has served as governor of the Bank
of Jamaica for thirteen years, “demitted office with immediate effect.”
Despite the impact of the global recession
on Jamaica,
business and consumer confidence generally stabilized in the third quarter of
the calendar year 2009, but the island is still in the grip of crippling
negative global economic trends.
Jamaican Prime Minister Bruce Golding says
the cost of government is way beyond what the country can afford and has hinted
at wide-ranging re-structuring and re-organization of government departments in
the next fiscal year – a situation that could lead to job cuts.
Jamaica’s Finance Minister, Audley Shaw says the delay in the planned visit
of an IMF team to Jamaica
stemmed from the fact that the government had to make adjustments to its fiscal
and medium-term economic programs, after carefully weighing the risks to Jamaica’s
credit rating of a debt forgiveness program, mooted by some commercial banks.
Amid the good news of a siginificant year-to-date fall in Jamaica`s inflation rate,the Bank of Jamaica has again slashed interest rates on a key instrument and points to the likelihood of single-digit inflation this fiscal year.
BPM Financial launched its IRA dubbed 'Personal Pension' on July 13, 2010. It was a natural fit for a company which has been in the retirement-planning business for over fifteen years.
The Economy 