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'Stupidness!' Holness addresses rumours Jamaica is going cashless

Published:Wednesday | May 31, 2023 | 3:55 PM
He said the Government has no intention of removing cash from the system. - Contributed photo

Prime Minister Andrew Holness has labelled as "stupidness" assertions that the Government is moving to phase out the use of cash in Jamaica.

Delivering the opening remarks at the Inter-American Development Bank's (IDB) conference on digital transformation in St Andrew on Wednesday morning, Holness noted that the Government has spent billions of dollars on new, more durable banknotes.

"Just stop for one moment. Just be rational," he urged.

He argued that it would be nonsensical to invest in the implementation of the new notes and then suddenly decide to remove them from the system.

"Don't you see that it's stupidness?" he asked, noting that Opposition Leader Mark Golding is among those who have circulated "concerns" about digital payments.

"I'm worried. Where is our reasoning and why is it so simple for us to be attracted by rumours?" Holness further questioned.

He said the Government has no intention of removing cash from the system.

His comments echo previous statements from the minister with responsibility for information, Robert Morgan, and Finance Minister Dr Nigel Clarke.

On Monday, Clarke stated that there is no digital currency mandate and that the new banknotes would be in circulation by the mid-June timeline, which was previously announced.

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