Businessman Keith Duncan to chair Fiscal Commission's advisory committee
Published:Tuesday | October 29, 2024 | 8:12 PM
Keith Duncan, CEO of JMMB Group, will chair an advisory committee for Jamaica's newly established Independent Fiscal Commission, set to begin operations on January 1, 2025.
The commission was created under the Independent Fiscal Commission Act, passed in 2021, to uphold Jamaica's fiscal responsibility laws.
Delays in operationalising the law arose as steps were needed to appoint the Fiscal Commissioner and establish an advisory board, both of which are now either complete or nearing finalisations, the finance ministry said Tuesday.
The Fiscal Commission is expected to promote public understanding and discussion around fiscal policy, releasing analyses aligned with the country's budget cycle, which runs from April 1 to March 31, yearly.
In his final address in the House of Representatives on Tuesday, Finance Minister Dr Nigel Clarke said the commission will be "the guardian and interpreter of Jamaica's fiscal rules" and will deliver independent fiscal assessments to encourage transparency and adherence to fiscal guidelines.
Courtney Williams, Jamaica's first Fiscal Commissioner, was appointed in March 2023.
Duncan is also chairman of the Economic Programme Oversight Committee, a group set up almost a decade ago to monitor Jamaica's fiscal reforms.
He will be joined by representatives across sectors: Nancy Pinchas from civil society, Dr Patrice Whitely from academia, Kareem Tomlinson from the private sector, and Helene Davis-Whyte representing public sector unions.
The announcement coincides with last week's launch of the University of the West Indies' Fiscal Research Centre, a J$200 million initiative by the Government of Jamaica.
The ministry said the commission, along with the Fiscal Research Centre and Jamaica's independent Central Bank, forms a foundational pillar in strengthening the nation's economic institutions and ensuring fiscal discipline.
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