Government Seeks Greater Participation in Financial Market

first_imgFacebookTwitterWhatsAppEmail RelatedStrong Fiscal Performance Finance and Planning Minister, Dr. the Hon. Peter Phillips, says the government is exploring avenues to encourage greater participation in Jamaica’s financial market.Dr. Phillips, who made the disclosure while addressing a forum hosted for members of the Diplomatic Corps at the Courtleigh Hotel, New Kingston, on Wednesday, February 5, said the move is being undertaken in collaboration with the World Bank and other stakeholders.Noting that the Diaspora is being targeted, he said that a substantial macroeconomic platform is fundamental to efforts to attract Diaspora investments, and assure members of tangible dividends.“You need to offer good prospects for a return on the investment to your Diaspora as you would need to (do) for any other investor. They are not going to invest for lower rates of return than they can get in other markets,” Dr. Phillips said.He noted that State Minister for Foreign Affairs and Foreign Trade, Hon. Arnaldo Brown, has, as part of his portfolio responsibilities, engaging the Diaspora in dialogue on such matters.Mr. Brown, in his remarks, advised that the draft Diaspora and Development Policy, which will form part of the country’s International Migration and Development Policy, focuses on the matter of Diaspora direct investment, being pursued by the Ministry, in collaboration with Jamaica Promotions Corporation (JAMPRO).“As part of our development of this policy, we have looked at other countries that have Diaspora relations and…partnerships,…Ireland is one of them (and) Israel is yet another, to look at best practices to see how we can adapt those in the context of Jamaica,” he stated.Mr. Brown described as “instructive”, the focus placed on investment and trade during 2013 Diaspora Conference in Jamaica, which he said, heightened participants’ awareness of the country’s potential investment opportunities, citing agriculture and the Global Logistics Hub initiative.“So I think that, moving forward, the Diaspora will be an important element, in terms of the investment platform and Minister (Phillips) is correct (in saying that) we have to treat them as we would do with any other foreign direct investors.  We have to demonstrate to them that there is a value proposition, and that is exactly what we are seeking to do,” Mr. Brown said.The forum formed part of activities being held, between February 2 and 7, to mark Diplomatic Week under the theme: ‘Partnership for Growth’. Story HighlightsThe government is exploring avenues to encourage greater participation in Jamaica’s financial market.The move is being undertaken in collaboration with the World Bank and other stakeholders.A substantial macroeconomic platform is fundamental to efforts to attract Diaspora investments, and assure members of tangible dividends. RelatedIMF Team to Visit in Februarycenter_img Government Seeks Greater Participation in Financial Market Finance & Public ServiceFebruary 7, 2014Written by: Douglas McIntosh RelatedFiscal Rule Legislation by End of March Advertisementslast_img read more

Senate Democrats Unveil Alternate Plan For ‘Struggling Schools’

first_imgSeveral Democrats in Georgia’s Senate released an education plan Tuesday aimed at helping struggling schools in poverty. The plan is supposed to be an alternative to a state takeover proposal for failing schools released by Gov. Nathan Deal last week.1:08Senate Democrats want to turn poor schools that are low achieving into “community schools.” The bill would create a pilot program that would give grant money from the state budget to low-income and at-risk schools. Sen. Vincent Fort, D-Atlanta,  says schools that are eligible would work with community partners to provide things like after-schools programs, healthcare and mental health counseling. Fort says the grants would make sure children get all the services they need. “Every child can learn, but at the same time that’s not a reason why we shouldn’t remove impediments to performance,” Fort says. “If a child is hungry they can’t learn. If a child isn’t feeling well they are going to be less able to learn.”But Gov. Deal doesn’t think ideas from the proposal should become part of his plan. His proposal would allow voters to decide whether to create a statewide takeover district for schools that are failing. He says low-performing schools are struggling due to poor leadership. “These are just operational things. They are not the kind of things that relate to governance,” Deal says. “We believe we have a governance problem as it relates to these failing schools in our state.”Under Deal’s plan, low-performing schools could be closed, run by the new statewide district or become a state charter school. They could also be jointly controlled by the state and local school boards.Under the legislation, a school would be considered failing if they score below 60 on the Georgia Department of Education’s College and Career Performance Index for three years in a row. The plan needs the approval of two-thirds of state lawmakers.Deal says a state commission that’s charged with overhauling the state’s funding formula and looking at other ways to improve schools should consider whether portions of the proposal by Senate Democrats should be included in their recommendations. Share Legal Advocate Discusses Medical Abuse At Shut Down Georgia ICE Facility Related Stories 1:08 | Play story Add to My ListIn My List For Whom The Bell Rings ‘It’s Fractured’: Georgia Lt. Gov. Geoff Duncan On Healing Republican Partylast_img read more