Wednesday 11 December, 2019

Audley Shaw named Caribbean Finance Minister of the Year

Audley Shaw

Audley Shaw

Finance and the Public Service Minister, Audley Shaw, has been named the Finance Minister of the Year for the Caribbean region by GlobalMarkets newspaper.

The publication records the annual meetings of the International Monetary Fund (IMF), the World Bank, the European Bank for Reconstruction and Development, the Asian Development Bank, and the Inter-American Development Bank (IDB).

Toby Fildes, the managing editor of the publication, said Shaw has an impressive roster of economic reforms that was started by the previous Jamaican administration, which demonstrates Jamaica's political stability.

“You have kept a tight hand on government spending – fiscal surplus is very high – which will help whittle down government debt,” Fildes wrote in an August 24th letter to Shaw.

Fildes said Jamaica has been cited as a stand-out performer in terms of its fiscal targets, and the new Government is now targeting faster growth.

“These measures are paying off. The minister recently approached the market with a liability management exercise. In addition, the country's ratings have been on the up since 2014, with Moody's lifting the country to B3 in November,” he indicated.

In accepting the award on behalf of the prime minister and the Government and people of Jamaica, Shaw said he felt honoured and looks forward to collecting it in Washington DC in the United States in October.

GlobalMarkets last year recognised Bank of Jamaica (BOJ) Governor, Brian Wynter, as the 2016 Governor of the Year. Wynter was lauded for admirable stewardship during difficult times in the international financial markets, and acknowledged as a “well-respected figure who has been stable and solid amid (a) change of Government”.

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