IMFs Jamaica Office to Remain Open

He said that the organisation will also provide technical support for institutional and capacity-building in key ministries, departments and agencies (MDAs) through training, among other inputs. IMF Resident Representative, Dr. Constant Lonkeng Ngouana, advised that the IMF will continue to monitor the progress of Jamaica’s Economic Reform Programme (ERP) and macroeconomic stability for an additional two years. The International Monetary Fund (IMF) will maintain operations at its Jamaica office beyond November, when the country officially concludes its current arrangement with the organisation. Story Highlights The International Monetary Fund (IMF) will maintain operations at its Jamaica office beyond November, when the country officially concludes its current arrangement with the organisation.Resident Representative, Dr. Constant Lonkeng Ngouana, said while it is the norm for the IMF to close its local office when its programme with a country ends, the decision to maintain the Jamaica office for an additional two years speaks to the strength of the Fund’s relationship with the country.Dr. Ngouana indicated that the partnership between Jamaica and the IMF will continue, adding that the IMF will provide technical support for institutional and capacity-building in key ministries, departments and agencies (MDAs) through training, among other inputs.He was addressing the Rotary Club of St. Andrew’s weekly meeting at Hotel Four Seasons on Tuesday (July 16).Meanwhile, Dr. Ngouana commended the steps being taken by the Government to ensure that the gains recorded under the ERP are preserved.These include work to establish the proposed independent Fiscal Council; reforming the Bank of Jamaica’s mandate to focus on inflation-targeting; advancing work on the proposed policy framework for natural disasters, and strengthening the capacity of the Ministry of Finance and the Public Service.“Those are the types of initiatives that will ensure that once Jamaica exits from the Fund’s financial support, the reform momentum and… the hard-won gains due to the sacrifice by all Jamaicans… are preserved when the programme expires,” Dr. Ngouana added.Jamaica’s latest relationship with the IMF started in 2013 when the country entered into a four-year US$932-million Extended Fund Facility (EFF).This arrangement ended in 2016 when it was replaced by a US$1.6-billion Precautionary Stand-By Arrangement.Dr. Ngouana’s tenure in Jamaica concludes in August and he will be replaced by another representative. read more

Principal Director of PSTM Says eBRF Will Help to Improve Ranking

Principal Director of the Public Sector Transformation and Modernisation Programme (PSTM), Office of the Cabinet, Wayne Robertson, says the recently launched Electronic Business Registration Form (eBRF) will help Jamaica to improve its ranking on the World Bank Doing Business Report Index.The island is ranked at 75 among 190 economies, according to the 2018 Doing Business Report.Speaking at a JIS Studio 58A session recently, Mr. Robertson said the PSTM programme at its core focuses on improving efficiencies within the public sector, in terms of operational activities.“We want to make processes simple, so we carried out business process re-engineering and worked with the Ministries, Departments and Agencies to build capacities generally, training workers, looking at their operations and making recommendations,” he explained.According to Mr. Robertson, the Trade & Investment Facilitation and Service Excellence objective under the PSTM programme looks at areas in terms of business facilitation and eliminating red tape.“We cannot frustrate the persons who do business with the Government, we must make it easier to do business. We have to look at the data and ensure that we are listening to our clients, because we also have feedback mechanisms that guide us accordingly,” he said.Mr. Robertson noted that information and communications technology (ICT), which is another PSTM objective, has been critical to all of the project’s operations, including eBRF.The Companies Office of Jamaica’s (COJ) online platform eBRF offers persons the opportunity to register their businesses and companies from anywhere in the world. Principal Director of the Public Sector Transformation and Modernisation Programme (PSTM), Office of the Cabinet, Wayne Robertson, says the recently launched Electronic Business Registration Form (eBRF) will help Jamaica to improve its ranking on the World Bank Doing Business Report Index. Speaking at a JIS Studio 58A session recently, Mr. Robertson said the PSTM programme at its core focuses on improving efficiencies within the public sector, in terms of operational activities. Story Highlights The island is ranked at 75 among 190 economies, according to the 2018 Doing Business Report. read more