Caribbean News
Jamaica Must Protect Itself Against Natural Disasters – Dr. Clarke
#Jamaica, May 03, 2018 – Montego Bay – Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, says Jamaica has worked too hard and has sacrificed too much to leave itself exposed to a major natural disaster. He said that disasters have a fiscal cost, which can result in unplanned public expenditure, along with a reduction in budgetary revenues.
“Natural disaster can set small countries back for years. Jamaica has done too much, made too many sacrifices to leave us completely exposed in a post-(International Monetary Fund)-programme environment,” he argued.
Dr. Clarke was speaking at the sales congress of the Caribbean Association of Insurance and Financial Advisors (CARAIFA) at the Hilton Resort and Spa in St. James on April 29, where he informed that the Government will be developing a Public Financial Management Policy for Natural Disaster Risk prior to the end of the Precautionary Stand-By Arrangement with IMF.
He said the policy, which will be crafted with technical assistance from the multilateral partners, will be combined with a 10-year operational plan for its implementation that takes into account fiscal space and other limitations.
“Today, and for the next 18 months, Jamaica is in a Precautionary Stand-By Arrangement with the IMF. Within the context of this programme with the Fund, we have access to significant resources should we need them. As we move towards the end of this programme with the IMF, with the commensurate stand-by line of credit that it offers, it is important that we consider measures that can moderate the fiscal impact of natural disasters,” he said.
Dr. Clarke argued that achieving and maintaining economic independence mean that “we must take account of our realities” and “part of this reality is that based on our location we are subject to natural disasters, and the incidence of these have been increasing over time”.
He informed that the Public Financial Management Policy for Natural Disaster Risk will consider Jamaica’s fiscal realities, “our natural disaster-related fiscal exposure, the pros and cons of various solutions available, our resource envelope and existing literature”.
“The policy will improve understanding of fiscal risks of natural disasters and recommend appropriate public financial management for natural disaster risk, including the implementation of various financing strategies,” he added.
He said the policy will also include contingent credit facilities with multilateral institutions, catastrophe bonds, the development of a natural disaster fund, and accessing climate financing for adaptation and mitigation purposes.
Release: JIS
Caribbean News
Sandals Resorts and Beaches Resorts celebrate a night of wins, and take home a total of 16 titles at the 32nd Annual World Travel Awards
Providenciales, Turks and Caicos Islands (October 6th, 2025) – CaribCon, the Caribbean conference celebrating culture, innovation, and creativity, will welcome some of the region’s most influential voices to its inaugural edition in the Turks and Caicos Islands. The event, set to be a dynamic gathering of thought leaders and cultural icons, will feature impactful panel discussions, inspiring and intimate fireside chats and a flow of knowledge from some of the Caribbean’s brightest and best in the creative sector.
Elizabeth “Lady” Montano
Jamaica’s own Dr. Terri-Karelle Johnson, celebrated communications specialist, media personality, and global keynote speaker, will headline CaribCon as the official keynote speaker. Known for her ability to connect authentically and inspire audiences worldwide, Dr. Reid will share her insights on Caribbean identity, storytelling, and the power of representation in shaping global narratives. Another highlight of CaribCon will be the presence of Elizabeth “Lady” Montano, mother and former manager of soca superstar Machel Montano. Lady will launch her award-winning book, King of Soca, in which she is positioned as the ultimate insider, chronicling the evolution of one of the Caribbean’s most iconic entertainers. She will also share her invaluable experiences on nurturing talent, building a brand, and sustaining longevity in the competitive music industry in an intimate fireside chat. Adding further star power to the event is Simon Baptiste, CEO of Question Mark Entertainment, co-founder of ODOS, a global collective network spanning over 1000 professionals in 35 countries, film director, talent manager and creative strategist. Baptiste will bring his expertise to conversations on shaping the region’s creative sector and talent.
Simon Baptiste
“CaribCon is where the Caribbean’s voices, ideas, and creativity converge,” says Omega Simmons, founder of CaribCon and CEO of SOS Media. “Having leaders like Terri Karelle, Lady Montano, and Simon Baptiste share their stories and expertise truly embodies the spirit of this event. Their presence reinforces the power of Caribbean culture to inspire and influence on the world stage.” CaribCon will take place at the Shore Club in Providenciales, the Turks and Caicos Islands, from October 23rd to 26th. Attendees can look forward to networking opportunities, panel discussions, and meaningful dialogue to foster an ecosystem that develops the region’s creative sector and propels it onto the global stage.
Sponsors are:
Signature Experience Partners: Ministry of Tourism, Experience Turks and Caicos, and The Shore Club.
Other sponsors: PPID, Invest TCI, InterCaribbean Airways, Subtronic Sounds, Spotlight Communications.
Hotel partners: Ocean Club Resorts, Waterloo Hotel Management, The Somerset on Grace Bay and Ports of Call Resort.
For more information, tickets, and updates, visit www.caribcon.co or follow @caribconhq on all social media platforms.
For more information please email: contact@caribcon.co
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