IMF team to arrive next month
A team from the International Monetary Fund (IMF) is scheduled to visit Jamaica during the second week of November to conduct a review of the country's performance under the extended fund facility.
Bank of Jamaica Governor Brian Wynter told Parliament's Public Administration and Appropriations Committee yesterday that he expected the team to conclude that Jamaica has met all the conditions for the second review.
The IMF board last month signed off on an earlier declaration by its staff that Jamaica passed the first quarterly review under the programme.
"I can indicate, based on preliminary data, that we have passed all of the quantitative requirements for September and would have met the structural requirements as well," Wynter told the committee.
He said when the IMF team arrives in mid-November, it will review Jamaica's performance for the quarter ending September as well as take a forward look at how the country is expected to perform in subsequent quarters.
JSE Junior Market will stay open - financial secretary
Financial Secretary Devon Rowe said yesterday that there was no imminent closure of the Junior Market of the Jamaica Stock Exchange.
Rowe, who was speaking during yesterday's sitting of Parliament's Public Administration and Appropriations Committee, said: "There is no consideration for any major change in the arrangements."
Companies listed on the Junior Market pay zero per cent income tax for the first five years, 25 per cent of regular tax rate for years six to 10, and receive exemptions on transfer tax on shares as well as stamp duty on such transfers.
Rowe noted that an omnibus tax-incentive bill, which is scheduled to be tabled in Parliament by October 30, will give details of the consideration for all incentives going forward.
"At this point , … I don't see any significant changes to the junior stock exchange," Rowe said.
Mullings' body to lie in state
The body of former Deputy Prime Minister Seymour 'Foggy' Mullings is scheduled to lie in state at the Old Hope Road, St Andrew, headquarters of the People's National Party (PNP) next Wednesday, between 11 a.m. and 2 p.m.
This will be followed by a night of tribute to the former PNP vice-president, starting at 7 p.m. at the same venue.
Mullings, who died last week Wednesday after battling Alzheimer's disease, has been accorded an official funeral.
Parliamentarians paid tribute to Mullings for more than an hour in the House of Representatives on Tuesday.
The service for the former politician and accomplished musician will be held on Thursday, October 24, at the St Matthew's Anglican Church in Clairmont in the South East St Ann constituency he served for the better part of three decades.