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Jamaica in V-shaped economic recovery

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#Jamaica, November 18, 2021 – With Gross Domestic Product (GDP) growth of 14.20 percent recorded in the second quarter of 2021, the country is now in a V-shaped economic recovery.

The disclosure was made by Minister of Industry, Investment and Commerce with portfolio responsibility for Agriculture and Fisheries, Hon. Audley Shaw during his address on day one of the Jamaica Promotions (JAMPRO) ‘Explore Do Business Jamaica Virtual Investment Conference 2021’ on Wednesday (November 17).

In a V-shaped recovery, an economy that has suffered a sharp decline experiences a fast and strong rebound. Such recoveries are generally spurred by a significant shift in economic activity caused by rapid readjustment of consumer demand and business investment spending.

Minister Shaw said Jamaica’s economy has and continues to benefit from the successful implementation of an Economic Reform Programme.

“Jamaica’s economy has, and continues to benefit from, the successful implementation of an Economic Reform Programme which resulted [prior to the pandemic] in entrenched macro-economic stability evidenced by relatively low unemployment and single digit inflation rates; a declining debt-to-GDP ratio; and seven consecutive years of economic growth,” he said.

He noted that the International Monetary Fund (IMF) estimates growth of Jamaica’s Gross Domestic Product (GDP) of 1.5 and 5.7 per cent respectively in 2021 and 2022, indicating improved performance of the economy.

As it relates to the country’s macro-economic performance as measured by growth in real GDP, Minister Shaw said Jamaica’s grew by a compounded average growth rate of 1.0 per cent per annum for the period 2015 to 2019.

This, he said, is compared with an average growth of 0.76 per cent for the Latin America and Caribbean region.

Underscoring Jamaica’s favourable investment climate, Minister Shaw cited several notable value propositions of the country, including Jamaica’s ranking in the 2020 Doing Business Report (World Bank, 2019) as the sixth easiest place to start a business, the 12th easiest for getting credit and the best Caribbean country for doing business.

The country was also named the top performing stock market globally in 2015 and 2018, as ranked by Bloomberg and its Long-Term Credit Rating and Local Currency debt, which are rated B+ by international rating firm, Moody’s.

The ‘Explore Do Business Jamaica Virtual Investment Conference 2021’ is being held November 17 to 18.

 

Contact: Rochelle Williams

Release: JIS

 

 

 

 

 

 

 

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CARPHA Progresses to Eligibility for the First Disbursement of Pandemic Funding

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Following a landmark Public Signing Ceremony for the Pandemic Fund (PF) Technical Cooperation Agreement (“Reducing the Public Health Impact of Pandemics in the Caribbean through Prevention, Preparedness, and Response” [RG-T4387] Project) on December 14, 2023, in Trinidad, the Caribbean Public Health Agency (CARPHA) and the Inter-American Development Bank (IDB) continues to progress towards the start of implementation.

 CARPHA fulfilled the IDB’s nine conditions prior to first disbursement, achieving full eligibility on March 15, 2024, and is now eligible for the first disbursement. This milestone achievement in just 3 months after the signing speaks to the commitment of both CARPHA, the Executing Agency, and IDB, the Implementing Entity, toward the regional PF project with the objective of supporting the reduction of the public health impact of pandemics in the Caribbean by building pandemic prevention, preparedness and response (PPR) surveillance & early-warning systems (EWS), laboratory systems and workforce capacity, regionally at CARPHA and in countries.

Since the signing of the Technical Cooperation Agreement and as part of the conditions prior to first disbursement, CARPHA has achieved the following key outputs (i) the development of the PF Project Operations Manual, Multi-annual Execution Plan, Procurement Plan, Financial Plan, Procedure for CARPHA’s Financial Reporting System; (ii) vacancy announcements for two tranches of consultants with the subsequent hiring of five (Technical Coordinator, Financial Specialist, Procurement Specialist, Operations Officer and Project Operations Coordinator) and (iii) the establishment of the Project Execution Unit (PEU) and Project Execution Steering Committee (PESC). The dedicated PEU will be responsible for execution according to its planned timelines, which will be led by the Dr. Lisa Indar, the Project Director (CARPHA’s Director of Surveillance, Disease Prevention and Control Division).

 CARPHA, as the lead regional public health agency and an expression of Caribbean Cooperation in Health is mandated by its Inter-Governmental Agreement (IGA) to support its 26 CARPHA Member States (CMS) in bolstering national systems and coordinating regional response to public health threats. The Agency works closely with regional and international agencies and uses regional mechanisms, surveillance systems, and networks for coordinating its public health response work.

In July 2023, the PF Governing Board announced that CARPHA’s regional entity proposal, entitled ‘Reducing the Public Health Impact of Pandemics in the Caribbean through Strengthened Integrated Early Warning Surveillance, Laboratory Systems and Workforce Development’ was successfully selected for the first round of financing. It was one of only 19 proposals selected from over 300 submissions and the only regional project. The three priority areas in the proposal are: (i) Comprehensive disease surveillance and EWS, (ii) Laboratory systems and (iii) Human resources and public health and community workforce capacity.

This project is expected to begin implementation in March 2024, starting off with a blended onboarding session. A Stakeholder Meeting with countries is tentatively planned for July 2024.

CARPHA remains dedicated to working together with the IDB, CARPHA Member States and the Pandemic Fund to successfully implement the regional proposal geared toward reducing the public health impact of pandemics in the Caribbean.

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Men who had Murdered Man, Marley Higgs’ cell phone face Court

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Wilkie Arthur

Freelance Court Correspondent

The prosecution intends to try two young North Caicos men, both age 21 for the offense of possession of property of a murdered man, property that was stolen and landed in their possession.

The phone belonged to Peureton ‘Marley’ Higgs, who is believed to have been an innocent gunned down at his apartment complex in the Glass Shack area in a spray of bullets on February 2 that killed another man and wounded two others, including a ten-year-old little girl.

The cell phone was described as white in colour, an iPhone, in a hard black case. 

On Monday, March 18th, JEFFVANO HANDFIELD of North Caicos pleaded not guilty to the offense, and the matter was adjourned to April 2024. He was granted bail in the matter.

A second North Caicos man was charged similarly.  

SARENO CAPELLAN aka, Kino Williams is the second individual brought before the court pertaining to the said cellphone. He appeared in court a week after JEFFVANO HANDFIELD, the date being Monday March 25th 2024.

The case for the Crown is that both men sometime in February of this year possessed the cellphone knowing or suspecting it to be stolen property.

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Supreme Court Closed for Easter

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NOTICE is hereby given that the Easter Recess shall commence on Friday 29th April, 2024 and end on Friday 5th April, 2024. During the Easter Recess Judge Selochan will be available to deal only with matters that are urgent or require prompt attention.

Court Business During the Easter Recess

A person who wishes to have a matter heard during the recess must file a certificate of urgency along with an affidavit, which must set out the reasons why the matter is urgent or requires prompt attention. The matter will not be listed during the recess unless the Judge deems it fit for urgent hearing.

Opening Hours During the Easter Holiday

The Supreme Court’s last sitting day for the first term is Thursday 28th March, 2024. The Court will officially resume sittings on Monday 8th April, 2024. The Supreme Court Offices in both Grand Turk and Providenciales will continue to operate while the Court is not sitting during the recess.

The Court Office will be closed on the following public holidays:

  • Friday 29th March, 2024 (Good Friday) CLOSED
  • Monday 1st April, 2024 (Easter Monday) CLOSED

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