There has been a recent outcry in Jamaica against the high and increasing fees and charges being levied by banks on some of their services. The fees attracting most attention are those that relate to basic transactions such as withdrawing cash from another bank’s ATM or stopping payment on a cheque. Charges on fairly common misdemeanours, such as writing a cheque that subsequently bounces or incurring an overdra on an account are also frequently identified as being exorbitant.i Because these fees and charges are levied on fairly commonplace activities, the cumulative effect on an individual or firm can be high, and the aggregate macroeconomic effect through heightened transactions costs cannot be ignored.
The value of the lottery scam in Jamaica is estimated to be as much as US$300 million in one year. As a small developing state with a strong ICT infrastructure, Jamaica has been a haven for international investors seeking to cash in.
An overview of the insolvency regime in Jamaica and a proposal for the corporate rescue and rehabilitation reforms based on the best practices for insolvency, bankruptcy, receivership and administration in the Caribbean, U.K., Canada and the U.S.A.
Over the last decade, scrap metal theft has emerged as an epidemic across the globe. This paper draws lessons from the international scrap metal experience to inform the Jamaican context and makes policy recommendations for the effective regulation of the industry.
An overhaul of Jamaica’s tax system is long overdue, but maximizing the effectiveness of the reform process requires a clear sense of priority. This brief highlights the most pressing tax reform measures for improving the Jamaican economy.
Development assistance, specifically targeting renewables in developing countries, exceeded US $2 billion in 2008; such investment has been possible due to the existence of an enabling policy framework for renewables in the host country. This brief outlines the policy regimes available to Caribbean policy makers wishing to usher in a new energy era, by designing enabling policies which will allow them to tap into funding earmarked for renewable energy.
Within the next decade technological change will revolutionize the energy sector, with renewable energy based electricity becoming competitive with conventional (fossil-fuel based) electricity generation. This brief explores various mechanisms for mobilizing financial resources for investment in renewable energy technologies in the Caribbean.
Given the scarcity of fiscal revenue in the country, the resources needed to improve the education system will have to be generated, not through new cash, but through re-allocation. This brief examines the current tertiary funding model and presents funding alternatives.
The country faces significant gaps in its external and fiscal accounts. With limited credit options given the current international economic environment, economic restructuring is imperative to sustainable recovery. This paper shows recourse to the IMF offers a viable solution.