Legislation to Modernize Bank of Jamaica in the Works

KINGSTON, Jamaica, Thursday April 26, 2018 – Legislation to modernize the Bank of Jamaica (BOJ) is to be tabled in Parliament within the next six months.

Minister of Finance and the Public Service, Dr Nigel Clarke made the disclosure at a meeting with rating agencies while attending the International Monetary Fund (IMF)/World Bank Governors 2018 Spring meeting in Washington, D.C., last week.

Minister of Finance and the Public Service, Dr Nigel Clarke with the Managing Director of the International Monetary Fund (IMF), Christine Lagarde, at the IMF/World Bank Governors 2018 Spring meeting.

He says modernization of the country’s Central Bank will result in increased transparency as well as achieve greater accountability in the bank’s operations.

The Finance Minister also discussed the country’s increasing stable economic environment, in addition to the policies and programmes that the Government plans to implement.

He met with the management of the IMF, the World Bank and the Inter-American Development Bank (IDB) and outlined the programmes being pursued by the Government to achieve economic expansion for all, as well as fiscal sustainability and the protection of the vulnerable.

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