WASHINGTON, United States (AP) — The Treasury Department says it expects to borrow US$463 billion in the current April-June quarter and US$2.28 trillion for the full budget year, as the Government finances continued pandemic relief measures. Treasury officials announced Monday that the US$463 billion in borrowing for the current
Dr Hyginus “Gene'' Leon yesterday took office as the sixth president of the Caribbean Development Bank (CDB). His appointment follows the retirement of Dr Wm Warren Smith last month after serving the regional multilateral institution as president for the last 10 years. Leon, in his new role as chief executive
WASHINGTON, United States (AP) — The US economy is poised for an extended period of strong growth and hiring, the chair of the Federal Reserve said in a recent interview, though the novel coronavirus still poses some risk. Chair Jerome Powell said that he doesn't expect to raise the Fed's
The Financial Services Commission (FSC) plans to restructure its operations, improve its supervisory capabilities, and facilitate the expansion of the financial markets. This, while ensuring the safety and soundness of regulated entities and greater consumer protection. The commission will pursue several strategies to this end in fiscal year 2021/22, details
Jamaica's Net International Reserves (NIR) is currently running just below the International Monetary Fund's (IMF) March 2021 target of US$3.49 billion. The NIR out-turn last month increased to US$3.31 billion, reflecting a jump of US$303.15 million relative to the US$3.01 billion reported at the end of February 2021. However, this
Jamaica recorded a big surge in net remittance inflows of US$224.4 million in January 2021, representing a US$62.9 million jump or 39.0 per cent increase relative to January 2020 based on the latest results of Jamaica's Remittance Bulletin. The Remittance Bulletin for January 2021, which was published last week by
The Caribbean Development Bank (CDB) says it is coordinating a multi-tiered response to the crisis in St Vincent and the Grenadines caused by the eruption of the La Soufrière volcano. "The Caribbean Development Bank joins with the regional and international community in expressing our solidarity and best wishes to the Government and People
On April 1, 2021, Bank of Jamaica (BOJ), in accordance with the Bank of Jamaica Act, made a distribution to the Government of Jamaica (GOJ) of $32.6 billion from accumulated profits for the period 2018-2020 less unrealised gains as at December 31, 2020. Such a transaction is already routine for
British Caribbean Insurance Company (BCIC) is moving forward with plans to further modernise its workforce with the addition of Carol Ebanks as the insurers first-ever chief people officer (CPO). Ebanks, a talent management executive, stepped into the newly created C-Suite role earlier this year with the goal of streamlining BCIC's
Guardian Life Limited (GLL) is reporting after-tax profits of $9.3 billion for the year ended December 31, 2020, an increase of 17 per cent on the $7.9 billion achieved in 2019. This performance, the company said in a news release, reflects growth in core business and improvements in its asset-liability
