Mounting public debt tracks fiscal indiscipline, says Wehby Posted on April 17, 2009April 17, 2009 by Your Financial FactSheet Jamaica Observer: “Mounting public debt tracks fiscal indiscipline, says Wehby” After spending the better part of two years as Minister without Portfolio in the Ministry of Finance, Senator Don Wehby has said that Jamaica’s poor track record on meeting fiscal targets is to be blamed for the country’s mounting public debt, which is now just over J$1 trillion. Jamaica Gleaner: “Choosing a better future in the Americas” As we approach the Summit of the Americas, our hemisphere is faced with a clear choice. We can overcome our shared challenges with a sense of common purpose, or we can stay mired in the old debates of the past. For the sake of all our people, we must choose the future. Jamaica Observer: “Jobless claims top 6 million, housing plummets” WASHINGTON (AP) – The number of people receiving jobless benefits exceeded six million for the first time, the government reported yesterday, and housing construction unexpectedly plunged to its second-lowest level on record – fresh evidence that the recession is far from over.
At last, economy leveling off — but bumps not over Posted on April 10, 2009 by Your Financial FactSheet Aversa, Washington AP: “At last, economy leveling off — but bumps not over” At last, after a nerve-racking six-month descent, the economy appears to be leveling off. don’t assume the bumps are over. Stock investors, shoppers and home buyers are less jittery. Once-frozen credit markets are slowly thawing. And economic indicators that had been going from bad to worse are showing signs of stabilizing — though still at distressed levels.
BoJ Signals Interest Rate Policy Shift Posted on April 9, 2009April 9, 2009 by Your Financial FactSheet Jamaica Gleaner: “BoJ Signals Interest Rate Policy Shift” At first blush, the 133 basis point cut on a single open market instrument of six in the central bank’s arsenal seems a token concession to corporate Jamaica which wants interest rates to be cut. Jamaica Observer: “Fed sees only weak growth in 2010” WASHINGTON DC, USA (AFP) – The Federal Reserve no longer sees signs of recovery this year from a prolonged recession and only weak growth in 2010, minutes of a policy-setting meeting said yesterday.
Growing number of economists see recovery on horizon Posted on April 6, 2009April 7, 2009 by Your Financial FactSheet Isidore, CNNMoney.com: “Growing number of economists see recovery on horizon’ Unemployment at a 25-year high. Housing prices continuing to fall. Corporate titans such as General Motors on the brink of bankruptcy. There’s no lack of bad economic news. And yet, amid the gloom, there are a growing number of economists that see a recovery on the horizon — perhaps even a strong rebound.