Nov 25, 2017 Last Updated 10:16 AM, Nov 8, 2017

The Minister of Finance & the Public Service

The Honourable Minister Audley Shaw CD, MP, Minister of Finance and the Public Service. He is a graduate of Northern Illinois University (NIU) with a Bachelor of Arts and Master of...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Rudyard Spencer, CD, MP is Minister of State (Public Service), with the Ministry of Finance and Public Service. Minister Spencer studied Industrial Relations at Medg...

Minister of State in the Ministry of Finance and the Public Service

The Honourable Fayval Williams, MP, is Minister of State in the Ministry of Finance and the Public Service. Minister Williams is a Chartered Financial Analyst (CFA), and holds an M...

Why a CTMS?

Simply put, the current operations of Government, in respect to how it manages money are no longer viable.

Our present system is characterized by -

  • numerous bank accounts,
  • lack of access to the said accounts,
  • idle balances sitting in those accounts -
  • while Government engages in borrowing to meet budgetary needs.

Not knowing the quantum of monies available, or having access to the total amounts available in these accounts for utilization results in an in - efficient cash management programme, leading to unnecessary borrowing which burdens the budget, and reduces Government’s ability to spend for more productive purposes.

In early 2010, the Government through the JDX was able to reduce the burden that interest payments laid on the budget. The reprieve created through the support of Jamaicans across the length and breadth of the economic stratum, although contributing to the solution, requires sustained and supporting action.

The CTMS is a major change in fiscal management, that is aimed at supporting improved cash and fiscal management.

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