The Ministry of Finance and the Public Service (MOFPS) has signed a new loan contract with the Inter-American Development Bank (IDB) valued at US$70 million to support the Continued Public Sector Transformation Programme. The MOFPS and IDB representatives participated in a Visibility Ceremony for the loan agreement at the MOFPS on Friday, March 27, 2026.
My fellow Jamaicans,
You may have noted that in its Economic and Fiscal Assessment Report which was published in January, the Independent Fiscal Commission said Hurricane Melissa caused an estimated US$8.8 billion in damage — which is about 41 per cent of GDP.
Fitch Ratings Agency, on February 5, 2026, affirmed the Government of Jamaica’s Long-Term Foreign-Currency and Local Currency Issuer Default Rating (IDR) at ‘BB-’ and maintained the outlook at “Stable”.
Auditors, public sector workers and government officials were urged to strengthen stakeholder confidence in public services by reinforcing trust, enhancing risk oversight and building institutional resilience at the Government of Jamaica’s (GOJ) Audit Committees’ Conference, held at the Jamaica Pegasus Hotel on Wednesday, January 21, 2026.
Reference is made to Ministry of Finance and the Public Service Press Release of November 6, 2025 regarding the relief of customs duty and general consumption tax (GCT) on a specified list of items.
The Government of Jamaica (GOJ) has introduced a new requirement for procuring entities to publicly disclose contracts awarded in situations of emergency or extreme urgency on the Government of Jamaica Electronic Procurement System (GOJEP) at www.gojep.gov.jm. This new requirement reinforces the GOJ’s commitment to transparency, accountability and public oversight.
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