Confidence on the uptick – Companies believe worst of recession over Posted on July 8, 2009July 9, 2009 by Your Financial FactSheet Jamaica Gleaner: “Confidence on the uptick – Companies believe worst of recession over – But Curtin has doubts” Business confidence in the second quarter has recovered from its all-time low, but though up by 22 per cent over the first quarter is still at its third-lowest point in the past two years of the survey, at 92.7 points. Jamaica Observer: “The primary problem” The Government had to undertake significant fiscal manoeuvring in the month of May as it didn’t earn enough to pay its workers while meeting its other non-debt obligations. Jamaica Observer: “IMF left Jamaicans with a bad taste” In 1977 Jamaica entered into a borrowing relationship with the International Monetary Fund for the first time. This led to tremendous controversy with the Michael Manley regime and has left a bitter taste in the mouth of Jamaicans.
The IMF is a Necessary Stop Gap Posted on June 26, 2009June 29, 2009 by Your Financial FactSheet Jamaica Observer: “The IMF is a Necessary Stop Gap” Much debate has taken place on whether or not Jamaica should approach the IMF for some facility to support the Balance of Payments challenge we face. Some have gone as far as to document their feeling for and against the IMF, including emotional responses to the past record of the IMF. Jamaica Observer: “The IMF, Today and Tomorrow” The International Monetary Fund’s history tells its story. History, however, may not be a reliable predictor of the Fund’s future.
New Regulation Rules: Their Impact on You Posted on June 17, 2009July 17, 2009 by Your Financial FactSheet SmartMoney: New Regulation Rules: Their Impact on You President Obama’s sweeping proposal to overhaul the financial regulatory landscape is perhaps the most comprehensive and ambitious plan in 76 years — ever since FDR’s New Deal ushered in the Securities and Exchange Commission, among other institutions and rules. Jamaica Observer: Prices jump in May The Statistical Institute of Jamaica (Statin) on Monday reported that inflation during May, the second month for the 2009/2010 fiscal year, was 0.9 per cent. “The All Jamaica ‘All Divisions’ Consumer Price Index (CPI) of 140 represents an incrase of 0.9 per cent over he index for April 2009,” said Statin’s release. Jamaica Observer: Housing, A Building Block to Economic Recovery? Kingston today and Kingston just one year ago surprisingly look very different. Just last year, you couldn’t turn a corner without bumping into a new set of townhouses or an apartment complex under construction.
BOJ Says Taxes Will Spur Inflation – But Central Bank Backs IMF Path, deficit target Posted on May 22, 2009May 27, 2009 by Your Financial FactSheet Jamaica Gleaner: “BOJ says taxes will spur inflation – But central bank backs IMF path, deficit target” The Jamaican central bank is forecasting that price increases in the June quarter of the current fiscal year could more than triple the 1.3 per cent inflation out-turn for quarter ended March, fuelled in large measure by the impact of the more than $18 billion in new taxes imposed by the Government. Jamaica Gleaner: “Analysis – Mistake to ignore calming effect of medium-term targets” The signals being sent by the Bruce Golding administration is that things are not going to be too bad during the current fiscal year, even though there will be a general slowing down of the overall economy. Jamaica Gleaner: “BOJ stands by currency policy” The Bank of Jamaica (BOJ) is not closing the door on making changes to its existing 40-year-old currency policy, which determines when new notes are issued and who adorns them.