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The IMF Test for January To March Will Be Much Harder To Pass

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8 years ago

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Chairman of the Economic Programme Oversight Committee (EPOC), Richard Byles has expressed confidence the Jamaica will pass the International Monetary Fund (IMF) 11th economic review.

However, he says despite the good trend, the concluding January to March quarter of the 2015/16 fiscal year is expected to be “tough for the fiscal targets.”

Speaking at yesterday’s EPOC press briefing, Byles said “we have to move from approximately $60 billion of (the) primary surplus (recorded for the October to December 2015 quarter) to $120 billion. So, in one quarter, we have to do what we have done in three quarters”.

He says this prospect will be a “very steep climb”, however, should the country continue along the current path, it will overcome the challenge and “achieve that $60 billion increase in the primary balance.”

For the October to December 2015 quarter, Byles says the country has managed to surpass the IMF’s Primary Surplus and Net International Reserve (NIR) targets.

He says Primary Surplus stood at $66 billion, which exceeded the $60.7 billion target, while the NIR totalled US$2.44 billion, some US$800 million more than targeted.

Byles says based on these results, unless there is something unforeseen, Jamaicans should pass the review currently underway.

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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7 years ago

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November 24, 2016

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JSE Online Trading Platform

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7 years ago

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November 24, 2016

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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8 years ago

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July 11, 2016

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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8 years ago

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June 27, 2016

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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8 years ago

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June 27, 2016

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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