IN 1976 the Bank of Jamaica (BOJ) ran entirely out of foreign exchange, leaving the Net International Reserves (NIR) balance at zero. There was no foreign exchange to buy oil to provide the country with electricity and gasoline — key sources of energy. No money to buy medicine and other vital supplies for the health sector, to purchase basic food supplies…
Category: Local
Whither Jamaica’s interest and exchange rates?
Whither Jamaica’s interest and exchange rates?
Last Week, we addressed the uncertainty surrounding the direction of the US monetary policy. Pundits on either side are busy lobbying, modelling and hypothesizing the US Federal Reserve’s next move.
FIs rattled by NDX can tap $62b rescue fund – BOJ promises one-day liquidity approval
FIs rattled by NDX can tap $62b rescue fund – BOJ promises one-day liquidity approval
The financial rescue fund crafted by the Bank of Jamaica (BOJ) for liquidity and capital support has been launched initially with US$650 million seeded by the International Monetary Fund (IMF), but will be boosted further by an undisclosed sum after the IMF’s board signs off on the negotiated bailout programme.
Strengthening Debt Management
THE government recently passed legislation for a tighter, better management of public debt, among other things. One of the most important aspects of debt management is setting a ceiling for debt, but I did not see anything definitive about this in the legislation.