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Hon. Nigel Clarke, DPhil., MP, (2nd left) Minister of Finance and the Public Service and Lilia Burunciuc (2nd right), World Bank Country Director for the Caribbean Countries sign a loan agreement to support the Jamaica Social Protection for Increased Resilience and Opportunities Project during a visibility ceremony at the ministry on Tuesday, June 11, 2024. Looking on are Collette Roberts Risden (left), Permanent Secretary, Ministry of Labour and Social Security and Dr. Jaime Saavedra Chanduvi (right), World Bank Human Development Director for Latin America and the Caribbean Region.
Kingston, Jamaica: Monday, April 27, 2026
Honourable Fayval Williams, Minister of Finance and the Public Service, announces the commencement of the search for a new Governor of the Bank of Jamaica (“BOJ”) who would be expected to succeed Governor Richard Byles on the completion of his term of appointment on August 18, 2026. The search will take place in keeping with the principles of transparency and good governance.
Minister Williams said the process will identify the best-suited candidate to lead the Bank of Jamaica in entrenching stability, modernising the financial system (including accelerating digital payments into everyday economic activity, especially for underserved Jamaicans) and ensuring that the gains of sound monetary policy are felt across the broader economy in jobs and investments.
The Search Committee will comprise Mr. Calvin McDonald, an eminent Jamaican with 29 years as a staff economist at the International Monetary Fund (IMF) and who, after several senior appointments, retired in 2021 as Deputy Secretary of the IMF; Ambassador Kathryn Phipps, Attorney-at-Law who has practiced law in Jamaica, St. Kitts and Nevis, The Commonwealth of the Bahamas and Grenada. Professor Delroy Hunter, the Serge Bonanni Professor of International Finance at the University of South Florida and a former Commonwealth Scholar. He has published peer-reviewed papers in several prestigious business journals including the Journal of Financial Economics; and Ms. Minna Israel, an accomplished financial services professional with extensive senior executive and board of director experience in leading strategic transformation at large and complex organisations. Ms. Israel served as Special Advisor to the Vice-Chancellor on Resource Development at the University of the West Indies.
The Search Committee will assist in identifying a shortlist of suitable candidates for the position from which a submission will be made to Cabinet concerning the individual to be recommended to the Governor General for appointment in accordance with the Bank of Jamaica Act.
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For further information contact:
Office of the Minister of Finance and the Public Service
Ministry of Finance and the Public Service
30 National Heroes Circle
Kingston 4
Tel: (876) 932-5568
Email: hmf@mof.gov.jm
The Hon. Nigel Clarke, D.Phil., MP
Minister of Finance and the Public Service
30 National Heroes Circle, Kingston 4
Tel: (876) 932-4656 / 4660 / 4655
Eml: opedjamaica@gmail.com
Honourable Fayval Williams, Minister of Finance and the Public Service, announces the commencement of the search for a new Governor of the Bank of Jamaica (“BOJ”) who would be expected to succeed Governor Richard Byles on the completion of his term of appointment on August 18, 2026. The search will take place in keeping with the principles of transparency and good governance.
The Ministry of Finance and the Public Service (MOFPS) has officially launched the fourth staging of the National Budget Secondary School Tour, setting the tone for a series of dynamic and interactive workshops designed to sensitize students about the national budget and its impact on their lives.
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.
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