Jamaica's Premier Financial Factsheet: To Enlighten, Enrich, and Engage.
Jamaica Observer: “Policing the economic recovery”
LAST week, the Government secured the much-needed approval from the IMF board for some US$1.3 billion to be loaned to Jamaica for balance of payments support. More importantly though, this paved the way for the Government to secure the necessary financing from the other multilateral organisations.
EVEN AFTER major re-structuring of the country’s domestic debt, the Jamaican Government is projecting a debt-servicing bill of $306.5 billion in 2010/11, suggesting a $27.4 billion or nominal 10 per cent hike on the cost of servicing its debt for the fiscal year that ends on March 31.
Jamaica Gleaner: “BOJ still bankrolling Gov’t – But not for the long haul, says governor”
DESPITE ADVANCING more than $36 billion to the Government since November, and its continued gobbling up of GOJ securities shunned by private investors, the Bank of Jamaica (BOJ) was this week contending that it would soon be reining in such support.
Jamaica Observer: “JDX among the world’s best, says BOJ boss”
At 97 per cent compliance, the Jamaica Debt Exchange (JDX) is among the most successful debt swapping initiatives in the world, according to Bank of Jamaica Governor Brian Wynter.
Jamaica Gleaner: “Market capitulates on rates – Benchmark T-bill yields 12.5%”
In what appears to be a capitulation to Government’s push to lower rates in line with the Jamaica Debt Exchange (JDX) offer, the monthly treasury bill auction yielded 12.5 per cent on the benchmark six-month bill and 11.68 per cent on the three-month issue.
Jamaica Observer: “JDX success should allow JA to move away from high interest rate model”
All the feedback so far on the Jamaica Debt Exchange (JDX) has been overwhelmingly positive, exceeding even the most optimistic expectations, whether one talks to institutional investors (even amongst pension funds and life insurance companies who have particular difficulties with the offer), key bankers, business leaders or even most (obviously not all) individual investors.
Jamaica Observer: “JDX participation a ‘remarkable achievement’ but Wynter mum on govt loan”
Governor of the Bank of Jamaica, Brian Wynter, yesterday lauded the financial sector’s response to the Jamaica Debt Exchange (JDX) as a ‘remarkable achievement’ following a reported 91 per cent participation from bondholders, even while denying the Bank’s assistance to the Jamaican government.
Jamaica Observer: ‘JDX will result in short-term losses for some institutions”
THOUGH the financial sector has come out in strong support of the Government’s Jamaica Debt Exchange (JDX) programme, many will report losses as a result, some significant.