Connect with us

Caribbean News

FINANCE MINISTER SAYS INFLATION TARGET WILL REMAIN AT FOUR TO SIX PER CENT

Published

on

KINGSTON, May 8 (JIS):

Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, has informed that the current inflation target for the Bank of Jamaica will remain at four to six per cent.

Dr. Clarke made the announcement during a statement to the House of Representatives on Tuesday (May 7).

He explained that the process for setting and renewing the target was codified into law via the Bank of Jamaica Amendment Act 2020, which, among other things, formally introduced Jamaica’s inflation targeting regime.

Dr. Clarke stated that in April 2021, after consultation with the Bank of Jamaica, documents were tabled advising of the renewal of the inflation target of four to six per cent, which was effective for three years.

“Following consultation with the Governor of the Bank of Jamaica, who is also Chairman of the Monetary Policy Committee, I confirm and have so tabled documents advising that the inflation target for Jamaica, calculated as the 12-month point-to-point percentage change in the consumer price index as measured by STATIN, will remain at four per cent to six per cent for the next three years,” Dr. Clarke said.

“The midpoint of this range of five per cent will be the operational target for the Monetary Policy Committee. This target remains consistent with Jamaica’s economic structure and stage of development,” he added.

The Minister noted that a lower inflation target than what currently obtains would require higher interest rates for longer, which could be detrimental to growth and to fiscal dynamics.

Furthermore, Dr. Clarke said Jamaica’s recent experience has highlighted that there are constraints to targeting a lower inflation rate at this time.

“In particular, the frequency of economic shocks, labour market rigidities, low productivity, a weak monetary transmission system and regulated price adjustments, constrain the ability of the Bank of Jamaica to deliver a lower inflation rate than what is currently targeted in the near term,” the Minister said.

Dr. Clarke stated that these constraints speak to inherent challenges that as a country “we must tackle if we are to target and enjoy the levels of inflation of our main trading partners”.

“Going forward, I will support all efforts to ameliorate these constraints. On the other hand, setting the target higher than four per cent to the six per cent range would be problematic for most Jamaicans who do not have the independent means to protect themselves against higher targeted inflation,” he noted.

Dr. Clarke explained that it is for these reasons that the inflation target for Jamaica, calculated as the 12-month point-to-point percentage change in the consumer price index as measured by the Statistical Institute of Jamaica (STATIN), will remain at four to six per cent for the next three years.

 

CONTACT: LATONYA LINTON

 

Caribbean News

UN Supports Saint Lucia’s commitment to the Advancement of Human Rights

Published

on

L-R PS Janelle Modeste Stephen, Lorraine Nicholas, Reba Granado-John and Carolina Moreno Diaz

Castries, March 2025. Saint Lucia has reaffirmed its commitment to ensuring human rights for all.

This was the collective assertion, as over 20 national stakeholders participated in a two-day national Human Rights workshop. This initiative was hosted by the Office of the High Commissioner for Human Rights’ (OHCHR) Regional Caribbean office, in collaboration with the UN Resident Coordinator’s satellite office in Saint Lucia, and the Ministry of External Affairs, International Trade, Civil Aviation, and Diaspora Affairs.

The workshop, was designed to enhance awareness of the International Human Rights System, including treaty bodies and human rights mechanisms; build capacity of government officials and civil society members in data gathering and human rights reporting; and to highlight the role that respective agencies and their constituents play within this system. The Ministry of External Affairs, International Trade, Civil Aviation and Diaspora Affairs is the focal agency for Human Rights in Saint Lucia.

In welcoming participants, Permanent Secretary of the Ministry of External Affairs Ms. Janelle Modeste-Stephen, noted that advancing human rights was a shared responsibility. “Government must enact policies and safeguard rights. Civil society must continue to advocate and mobilize. The private sector must embrace inclusive practices. Communities must challenge discrimination and uphold the dignity of every individual,” She urged stakeholders to use the workshop as an opportunity to learn, collaborate and commit to concrete action that will make human rights a lived reality for all in Saint Lucia. “Together, we can build a society, where justice, equality and inclusion are not just aspirations but everyday realities”, she stated.

A key objective of the workshop was to reactivate and strengthen the capacity of Saint Lucia’s National Coordinating Committee for Human Rights, which was established by the Cabinet of Ministers in 2019. The Ministry of External Affairs serves as the Chair and Secretariat of the Committee, which comprises representatives from various government ministries. The committee is responsible for analyzing the human rights situation at the national level and collaborates to report on recommendations aligned with Saint Lucai’s national priorities. The active functioning of the National Coordinating Committee for Human Rights is crucial for promoting and protecting human rights.

Reflecting on the utility of the workshop, Ms. Bynta Ernest, the representative from the Department of Gender Affairs on the National Human Rights Committee noted that the session was essential to the Committee’s revitalization and to demonstrating its importance in advancing human rights in Saint Lucia. “The practical sessions towards reporting on the recommendations from the last Universal periodic Review (UPR) were also very useful to kick-start the process towards meeting our October 2025 UPR reporting deadline,” she added.

In fulfillment of Saint Lucia’s human rights related reporting obligations and deadlines, workshop participants prepared a draft plan of action to devise next steps to advance Saint Lucia’s human rights agenda.

The workshop was held at the Harbor Club Hotel, from March 5-6, 2025. Participants included representatives from departments of External Affairs, Health, Education, Labor, Justice, Human Services, Gender Affairs, Immigration, Equity, Economic Development, the National Statistical Office, the Parliamentary Commissioner’s Office, the Royal Saint Lucia Police Force, the Attorney General’s Office, and the National Council of and for Persons with Disabilities.

Photo Captions:

1st insert: Janelle Modeste-Stephen, Permanent Secretary in the Ministry of External Affairs

2nd insert: Bynta Ernest, Gender Affairs

Continue Reading

Caribbean News

Caribbean Tourism Leadership Honored at PATWA International Travel Awards

Published

on

Pictured L-R are Mureen James (MBCC), Joy Jibrilu (NPIPB), Narendra Ramgulam and Dona Regis-Prosper (CTO), Florian Valmy-Devillers (CTO Chapter UK & Europe), Melnecia Marshall and Minister Marsha Henderson (St. Kitts & Nevis), Minister Carlos James (St. Vincent and the Grenadines), Chevannes Barragan De Luz (Jamaica Tourist Board), and Denar Brown (MBCC).

CTO, Secretary-General Dona Regis-Prosper, and Four Ministers of Tourism among award recipients

 

BERLIN, Germany (March 9, 2025) – Caribbean tourism leadership was showered with high praise at the 25th edition of the Pacific Area Travel Writers Association (PATWA) World Tourism & Aviation Leaders’ Summit and the PATWA International Travel Awards, held during ITB Berlin last week. The region’s exceptional contributions to global tourism were recognized across multiple categories, with the Caribbean Tourism Organization (CTO) and its Secretary-General, Dona Regis-Prosper, receiving top honors.

The CTO was named Best Organization – Regional Tourism, a testament to its unwavering commitment to strengthening the Caribbean’s tourism sector through innovation, collaboration and sustainability. Additionally, Regis-Prosper was awarded for Individual Excellence (Tourism Development), recognizing her leadership and stewardship over a revitalized organization in less than two years.

“This honor is a reflection of the dedication and resilience of the entire Caribbean tourism industry, including our very capable leaders,” said Regis-Prosper. “The CTO will continue to champion initiatives that enhance our destinations, foster partnerships, and ensure the region remains a world-class tourism powerhouse,” she added, thanking the Cayman Islands and Barbados for their chairmanship of the organization during her tenure.

Caribbean Leaders and Destinations Take Center Stage

Several Caribbean ministers and destinations also received prestigious awards for their outstanding contributions to tourism:

Exemplary Tourism Leadership

  • Edmund Bartlett (Jamaica) – Tourism Minister of the Year – Innovation
  • Marsha Henderson (St. Kitts & Nevis) – Woman Tourism Minister of the Year – Caribbean
  • Oneidge Walrond (Guyana) – Tourism Minister of the Year – Ecological Tourism
  • Carlos James (St. Vincent and the Grenadines) – Tourism Minister of the Year – Sustainable Tourism

Award-Winning Caribbean Destinations

  • Jamaica – Destination of the Year for Romance
  • Guyana – Destination of the Year for Natural Attractions
  • Nassau & Paradise Island – Destination of the Year for Marine Tourism
  • St. Vincent & the Grenadines – Destination of the Year for Eco-Adventures
  • St. Kitts & Nevis – Destination of the Year for Hidden Treasures

The Montego Bay Convention Centre (MBCC) in Jamaica received the Best Venue for Meetings & Conferences award, while Mureen James, Executive Director of MBCC, was honored with a Gold Award for Hospitality Operations. Additionally, Joy Jibrilu, CEO of the Nassau & Paradise Island Promotion Board (NPIPB), was recognized with the Caribbean Destination Management Award.

The awards were presented by PATWA Secretary-General Yatan Ahluwalia and Dr. Alain St. Ange, former Minister of Tourism of Seychelles, and highlighted the Caribbean’s continued influence in shaping the global tourism landscape.

Continue Reading

Caribbean News

Jamaica Better Equipped To Deal With Another Crisis Such As Covid-19 Pandemic -PM

Published

on

Kingston, Jamaica, March 10, 2025 – The Government has significantly increased investments in healthcare and should another crisis like the COVID-19 pandemic hit the island, the country will be better equipped to deal with it, according to Prime Minister, Dr. the Most Hon. Andrew Holness.

Speaking at the unveiling of a monument in honour of healthcare workers who died while tackling the COVID-19 pandemic, today (March 10), at the National Chest Hospital in St. Andrew, the Prime Minister said out of a commitment to strengthen the healthcare system and to strengthen the healthcare workforce, the Government instituted the Dr. Barry Wint Memorial Scholarship in 2024.

“We are investing $2.5 billion to support 607 students pursuing studies in medical technology, nursing, biomedical engineering, and other critical health-related fields,” he said, adding that the fund is ensuring the building of a robust pipeline of professionals “dedicated to service in the health sector.

“This is a solid commitment of how the Government is dealing with building resilience in the system, supporting our professionals, and at the same time ensuring that we can deliver healthcare with care,” the Prime Minister said.

He noted that while July has been earmarked to recognise the “selfless contribution of those who carried us through the crisis, more needs to be done”.

“Our appreciation cannot be confined to a single month or a single event. It must be reflected in how we value and support our healthcare professionals every single day. To the families of the fallen, I know that no words can fill the space left, especially for your loved ones,” Dr. Holness said.

The Prime Minister underscored that the legacies of the healthcare workers live on in the patients they treated, the lives they touched, and now in the monument that has been erected.

“Let us commit to a Jamaica where those who dedicate their lives to caring for others are themselves cared for. Let us also commit to upholding the values these healthcare workers have embodied – care, compassion, resilience and unity. In their action and sacrifice, they made a choice,” the Prime Minister said.

March 10 marks the fifth anniversary since the first case of COVID-19 was identified in the country, and the fourth year since the start of the recovery with the administration of vaccines.

 

Contact: Garfield L. Angus

Release: JIS

Continue Reading

FIND US ON FACEBOOK

TRENDING